Hong Kong to offer bigger subsidies for elderly in old districts

• New renovation body to consider larger subsidies for elderly homeowners in older districts.
• Council will guide owners through building repairs for a fee.
• Government has earmarked HK$300 million for the plan.
• HK$200 million allocated to subsidize owners.

Hong Kong's planned Building Maintenance Support and Services Council will consider offering larger subsidies to homeowners in older districts or those with a high elderly population who require major repairs. Financial Secretary Paul Chan Mo-po stated on Saturday that the council, established in response to the Tai Po fire report, will operate on a non-profit, user-pays basis. It will guide owners through the entire repair process, including tendering and evaluation, for a fee. The government has allocated HK$300 million for the initiative, with HK$100 million for start-up costs and HK$200 million designated for owner subsidies. The new body is expected to be operational by the end of the year.