30
For at
Enclosures
3 & 9
Aggregation of land by real estate developers is likely
to become less attractive, as the cash compensation will
be the minimum price at which exchange entitlements
can be bought. All these factors should encourage
the owners to accept cash. To assess the probable effect of
the newly proposed terms on future commitments, the
Working Group has prepared projections on the outstanding
commitments in two ways :
5.13
5.12.1 on the basis that all owners will choose
5.12.2
to take up the whole of the exchange
entitlements; and
on the basis that owners will choose
to take up half their exchange
entitlements.
The tables showing these projections, which are
at Enclosures 8 and 9, are based on the following
assumptions :
5.13.1
5.13.2
The Secretary for the New Territories'
projection of an annual resumption
commitment of about 10 million square
feet per annum;
that all forms of land from the private
sector will be acceptable as fulfilling
the Government's commitment to provide
/land