CONFIDENTIAL
3
機密
5.
6.
(b)
흐흐
it must be simple to operate;
(c) the developer should be given a reasonable;
deal but should not be absolved
(a)
(e)
(a)
(b)
(c)
usual commercial risks;
from the
the scheme should offer the Government adequate consideration for its investment;
developers can be selected competitively.
He added that the implications were
A
that there would be a contract by which the Government would provide land and the developer would build flats;
that sale prices must be fixed - otherwise the Government could not satisfy itself that the flats could be afforded by nominated purchasers; and
that the Government might guarantee that all flats would be sold within a fixed time limit.
Mr. Fry concluded by outlining, in broad terms, the sequence of events by whcih pre-qualified developers would respond to the Government's invitation to submit development proposals and tenders in respect of both fixed selling prices and land premiun. He then invited the R.E.D.A. representatives to comment.
Discussion
7.
The general discussion which followel resulted in points being raised and answered as regards the Working Group's intentions, and was concluded by an unanimous view being taken by the R.E.D.A.
8.
The R.E.DA was unanimously of the view that the scheme outlined by Mr. Fry would be most welcome, in that it was in the best interests of that segment of the community which could not at present afford to but would wish to become
This view was home owners, and of the real estate industry. expressed by Messrs. Henry Fok, Stanley Ho, LI Ka-shing Gordon Wu and CHENG Yu-tung. They felt confident that, given the incentives in the scheme, they could face up to the normal commercial risks involved in raising construction costs and the cost of obtaining construction finance. They also expressed the view that they would aim to make a return of between
12% and 14% on the actual cash outlay on each project.
9.
as follows
G.F. 323
Other important points raised in discussion are
/(a)
CONFIDENTIAL
機密