Urban renewal projects aim to renew old residential textures by improving, upgrading, strengthening and safeguarding residential buildings, and by upgrading public areas and infrastructures. The projects usually include an addition of new apartments in old built residential areas, by strengthening and thickening existing buildings, or by demolishing old buildings and replacing them with new ones.

An urban renewal project gives the apartment owners an opportunity to strengthen, safeguard and expand their apartments, and thus improve their life quality and upgrade their assets. In this type of project, the existing apartment is expanded or demolished, and a new apartment is built in its place. This is done without the costs of renovation and construction being laid on the apartment owners.