F. Flat-for-Flat Scheme
The Flat-for-Flat Scheme (FFF), which commenced after the promulgation of the new Urban Renewal Strategy on 24 February 2011, is applicable to owners affected by the URA's redevelopment projects.
Domestic owner-occupiers affected by the URA's redevelopment projects may opt for the FFF in lieu of cash compensation.
Domestic owner-occupiers who opt for the FFF must first accept the amount of cash compensation calculated on the basis of the value of a notional seven-year-old replacement flat.
They could then have a choice of 'in-situ' flats situated in the lowest five to eight floors in the future new development or flats in an FFF Scheme to be developed by the URA on a site at Kai Tak.
The unit prices for new flats are fixed at the time of the acquisition offer.