The Town Planning Board has agreed to give more flexibility to several industrial landlords in Yau Tong to speed up redevelopment in the district.
Four landowners have secured approval to proceed with residential projects separately instead of entering into a joint development.
One of owners is believed to be Kerry Properties, who can now build 125,000 square feet of residential floor area with a 25,000 sq ft retail portion on its 25,000 sq ft site.
Three other sites, totalling 47,000 sq ft, are owned by three other owners and they can build a total of 235,000 sq ft of residential space and 47,000 sq ft of retail space.
The four sites were originally part of a comprehensive redevelopment for a number of private lots involving 151,000 sq ft of land.
Analysts said a joint development would involve lengthy negotiations between various landowners, and make it difficult for redevelopment to get off the ground.
