Flat owners told to unite over payout
Owners of ageing flats to be demolished in a massive urban renewal scheme were yesterday urged to unite for better compensation.
The Independent Owners' Association for Fair Treatment issued an appeal to owners hit by the 26 projects, announced last week by the Land Development Corporation (LDC).
Founder David Lai Tai-wai said: 'At present there are no independent supervisory bodies to oversee the LDC and settle disputes between the owners and the LDC.
'In view of the ambitious projects which affect over 10,000 families and over 38,000 residents, we believe something has to be done to monitor the LDC,' he said.
'An independent body comprising individual owners should be set up to settle compensation.' Mr Lai added regulations favoured the LDC and provided no protection for private owners.
'That is why there is so much resentment,' he said. 'The Basic Law clearly values the property rights of individuals, and I hope the LDC and the SAR Government honour the Basic Law.' He claimed the compensation offered by the LDC was often insufficient for uprooted owners to buy a new flat.
A spokesman for the LDC denied the accusation and said its work was being monitored.
'The LDC's policy and work have to be approved by its managing board. Members of the board are all from different sectors of the society and are appointed by the Government,' she said.
Mr Lai urged owners to fax the association on 2581 0958.
