- 7
available to the private sector through the sale
In the early
or grant of leasehold interests.
days, Crown leases were for terms of 75, 99 or 999
years. They have now been standardised in the urban
areas of Hong Kong Island and Kowloon to a term of
75 years, usually renewable for a further 75 years
at a reassessed Crown rent under the provisions of
the Crown Leases Ordinance. Crown leases in the
Now Territories and New Kowloon are normally granted
for the residue of a term of 99 years less three days
from 1 July 1898.
13.
Most land available for commercial, industrial
or residential (other than public housing) development
in the urban areas is sold by public auction or
tender.
Regular auctions or tenders are held by the
Government and a six-monthly provisional Crown land
sales forecast is published twice a year, usually in
March and September. The amount of land sold by
public auction or tender in recent years is as
follows :
No. of sites
sold by auction or tender
Total
area
(hectares)
Year
1980-81
109
60.1
1981-82
105
65.4
1982-83
58
40.0
1983-84
47
21.7