HK$1.5 billion to save 30 shophouses

The Urban Renewal Authority will spend HK$1.5 billion this financial year to revitalise 30 pre-war Cantonese-style shophouses. Chairman Barry Cheung Chun-yuen said it would acquire 20 shophouses of outstanding heritage value with an existing formula of compensation, and would encourage owners of the other 10 of lower historic value to sell them to the authority or would help the owners do restoration.