Pilot Mediation Scheme

With a view to assisting minority property owners impacted by the Land (Compulsory Sale for Redevelopment) Ordinance, the Executive Committee (Excom) of The Real Estate Developers Association of Hong Kong (REDA) has agreed that all Excom member companies are prepared to help pay the appropriate share of the mediator’s fee under the Pilot Mediation Scheme for those owners who are not eligible for Government assistance.

This unanimous agreement was reached at a recent meeting of the REDA Executive Committee.

“REDA acknowledges that the process of urban renewal is disruptive to the lives of families and individuals but it is a necessary and inevitable step to provide increased accommodation for homes and businesses as well as to improve safety and hygiene standards, ” said Mr. Keith Kerr, Chairman of the Executive Committee of REDA.

Mr. Kerr added that REDA welcomes the move by the Government, announced recently by the Secretary for Development Mrs. Carrie Lam, that it would cover the mediation fee for minority owners aged 60 or above upon satisfying certain means tests.