Someone help me to translate
Someone help me to translate to ENGLISH
- susanlauLv 71 decade agoFavorite Answer
It has been proposed that compulsory land sale be applicable if more than 80% of ownership of the premises is acuquired. Such proposal, that will lower the threshold for land sale and redevelopment, is well received by developers.
The Development Bureau has proposed to relax the application criteria for land sale under the Land (Compulsory Sale for Redevelopment) Ordinance. A developer who has acquired more than 80% of the ownership of a lot may apply with the Land Tribunal for putting the lot on open sale. This will facilitate redevelopment of the premises.
Existing legislation under the Land (Compulsory Sale for Redevelopment) Ordinance requires a developer to acquire 90% of the undivided share of the building for it to file an application for land sale with the Land Tribunal. In some cases where there are a small number of households on the premises, redevelopment process has made no progress for 10 years since one or two households refuse to sell their ownership.Source(s): me, 政府新聞公告