Architects; Mr. P.B. Williams, deputy secretary for Home Affairs; and Mr. N.M. Gleeson, assistant registrar general.
are:
The other terms of reference of the committee
'Whether the administrative procedures and methods of inspection of the government depart- ments concerned are adequate to ensure that the provisions of the Buildings Ordinance relating to occupation permits are properly enforced.
'Whether the Buildings Ordinance and other relevant legislation are adequate to ensure that a building is not occupied until an occupation (or temporary occupation) permit has been issued and what amendments, if any, should be made to that Ordinance or other legislation for this purpose.'
Cost of mass transit scheme
Hong Kong's financial secretary, Sir John Cow- perthwaite, told the Legislative Council last month that the estimated cost of a mass transit scheme for the colony would be HK$2,800 million for the initial scheme, and HK$6,650 for the whole.
These figures included the cost of professional fees and the cost of financing during the unusually long period from inception of the work to pro- duction of operating revenue.
He said these figures should also probably be increased further to take account of rising costs, particularly for equipment. They would help to explain his 'financial doubts.'
Sir John was replying in the final stages of a debate on the Appropriation Bill 1971 to criticism for not having referred to the scheme in his Budget speech.
'I think I should rather have deserved criticism had I referred to it,' he commented, "for in the absence of a Government decision, I could only have given a personal opinion, and it would not be entirely proper for me to use the occasion of the Budget to engage in
engage in propaganda against the
scheme.'
Buoyant HK property market
The Hong Kong property market in the current financial year is expected to remain buoyant and sales of Crown land in 1971/72 are expected to yield more than HK$149 million, according to the Draft Estimates of Revenue and Expenditure for 1971/72.
-
Last year, it was forecast that revenue from land sales in 1970/71 would yield nearly HK$102 million, but the revised estimate for 1970/71 shows a figure of HK$258.5 million
more than two and a half times the amount originally fore- cast. The Draft Estimates also show that govern- ment income from properties and investments has increased by 250 per cent in the last ten years.
8
Estimated revenue from income from proper-
ties and investments in 1970/71 is expected to be HK$1,123.5 million compared with the 1960/61 year's total of HK$318 million. Income from pro- perties and investments includes premia from sales of land by public auction and tender, premia from grants of land by private treaty, premia from modi- fication of existing leases, exchanges and exten- sions, and premia from re-grants of expired 75-year or shorter leases.
Sales of land by public auction and tender in 1970/71 are now expected to yield more than $179 million against the original estimate of HK$73.5 million. This revised figure includes HK$43.3 million from the sale of valuable sites on the Central Reclamation and at Kwai Chung. The revised estimate of revenue from private treaty grants forecasts an increase of more than HK$9.6 million, due mainly to one large land transaction in Aberdeen.
The present buoyant state of the property mar- ket has resulted in more owners applying to the Government for modification of existing Crown leases, exchanges and extensions. In his Budget speech, Sir John Cowperthwaite, financial secret- ary, said a substantial part of land sales in the new financial year was likely to be either of major ur- ban sites or of industrial sites. In both cases, pur- chasers would be allowed generally to pay by in- stalments instead of in a lump sum. Much of the industrial land would be in the New Territories where most new leases involved an element of land exchange.
Lifts contract for Central hotel
Four high-speed passenger lifts of 800 ft. a minute and two special function elevators equipped with the latest computerised group super- visory control, three service and two special goods lifts are to be installed in the new Futurama Hotel being constructed at the corner of Connaught and Murray Roads, Central District, Hong Kong. The contract was signed last month between Furama Hotel Enterprises Ltd. and Otis Elevator Co.
The Furama, previously known as the Fu Cen- tre, will open in 1973. It will be a 34-storey build- ing containing 690 guest rooms. On top will be a revolving restaurant to seat 500.
The architects are Eric Cumine Associates.
Luxury residences for The Peak
A six-storey residential block of townhouses, costing some HK$8 million to construct, is planned for a 72,470 sq.ft. site in Barker Road, The Peak, Hong Kong.
Altadene Ltd., a wholly owned subsidiary of Mobil Oil Hong Kong Ltd., are the developers. They have appointed Goodyear Property Manage- ment Ltd. as project consultants, and Goodyear subsidiary, Hing Kee Construction Co. Ltd., as
Far East BUILDER, April 1971