Housing and Local Government Minister Nga Kor Ming says the Urban Redevelopment Act is currently in its final stages and targeted for tabling in the third quarter of this year.
He says four options whether to redevelop, regenerate, rejuvenate or conserve them, with all these well thought out to protect the owners’ interests while balancing out with business opportunities and developers interests.
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He says four options whether to redevelop, regenerate, rejuvenate or conserve them, with all these well thought out to protect the owners’ interests while balancing out with business opportunities and developers interests.
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
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NewsTranscript
00:00 Very good evening to Mr. Chan Seng Fat, Group Chief Executive Officer of Star Media Group.
00:08 ...appreciation of his presence and support this evening.
00:13 Okay, let me re-emphasise the Urban Redevelopment Law.
00:19 We will focus on four areas.
00:21 Number one, urban redevelopment.
00:23 Number two, urban regeneration.
00:26 Number three, urban rejuvenation.
00:28 Last but not the least, very important, that is urban conservation.
00:32 That means that those heritage buildings we are going to preserve,
00:36 and then transform it to be more liveable,
00:39 to be generated into high-value buildings.
00:44 Never forget, every architect or engineer will tell you,
00:48 every building also has their lifespan, just like human beings.
00:52 Every building above 70 years old definitely will warrant a medical check-up.
00:57 Some of those are already in ICU, or even CCU.
01:01 Once we are certified by the professionals, it is beyond redemption.
01:06 Or that it is actually no longer fit for human inhabitants.
01:11 It is time for us to decide what is next for that old building.
01:17 So you have four options, either redevelopment, regenerate it, rejuvenate, or you re-conserve it.
01:23 So all this has been all well thought after.
01:26 And in all our guidelines and the law, rest assured, we will protect the owner's interest,
01:33 as well as to balance out with the business opportunities and the developer's interest.
01:38 There is a reason why. Let me inform everyone, KPKT is practicing a 3-O policy.
01:48 That is an open door, open mind, and open heart policy.
01:52 We are ready, ever ready to listen to any constructive opinion.
01:57 And for those views that serve the best interest of our country, we will adopt it as part of our policy.
02:05 [BLANK_AUDIO]