Government is assessing the calculation of land premium

The Chief Executive, Chui Sai On, said yesterday that the Land Law in force since March 2014 is currently under review as part of efforts to better calculate land premium value, a statement from the Government Information Bureau informed.
Chui, answering questions from the media, also said that due to the recent tendency of reductions in the number of transactions in the market and the reductions in prices, there are different views on how the government should address this matter. He also said that the secretary for Transport and Public Works, Raimundo do Rosário, is currently studying this case and that information on the conclusions will be revealed in a timely manner.
According to the same statement, the CE additionally commented on the Urban Renewal Committee, regarding the possibility of opening the committee meetings to the public. He assessed that, in the absence of a regulation permitting the opening of meetings, instead a summary should be presented after such meetings. This would help inform the press on the topics discussed, and allow the committee to take advantage of the media as a channel for informing the public of their work. RM