14.
Leases for certain special purposes,
which have particular site requirements or other
factors which would make a public auction inappropriate,
are offered for sale by public tender. These special
purposes include capital-intensive industries
introducing higher technology and more technological
skills into Hong Kong, which could not be
appropriately housed in multi-storey industrial
buildings. Such sales are initiated only in
response to formal applications and in certain
circumstances may be concluded by private treaty,
subject to the approval of the Governor-in-Council.
15.
As stated in paragraph 7 above, the
formulation of overall targets for the production and
sale of land is the responsibility of the Special
Committee on Land Supply. While assessments of
demand for land are undertaken at regular intervals,
it is not possible to determine precise medium-term
or long-term land sales targets in advance. Because
of the curcial part which land plays in the commercial
life of Hong Kong, much of the actual
decision-
making process relating to the provision of land
for sale has to be carried on in a commercial
atmosphere, with full regard being paid to the current
state of the market. Thus, land sales programmes