JOHNSON, STOKES & MASTER
CONTIN
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blocks. The residential apartment units in the tower blocks are sold to individual purchasers, whilst the commercial buildings are retained for investment and are let out in units of various sizes to individual businesses. All the remainder of the Taikoo Shing Estate including unsold flats, likewise remains in the ownership of Swire. Swire's interest in this matter is therefore as owner and developer of Taikoo Shing and landlord of the properties therein that are let.
As at the date hereof 52 tower blocks of residential apartments have been constructed at the estate, providing 11,013 individual apartment units. In addition to the existing residential towers Swire is constructing an additional 9 residential towers at the estate, providing a further 1,677 residential units. Once all the residential towers at the Taikoo Shing are completed and occupied the residential population of the estate will be in the region of 60,000 persons, which is planned to have been achieved by mid 1987.
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The commercial development at Taikoo Shing is arranged in two principal areas, known as Cityplaza I and Cityplaza II, together with neighbourhood shopping, schools, kindergartens, indoor recreatior facilities etc. and car parking. In accordance with Swire's present plans the total gross floor area of the commercial portions of the estate including neighbourhood shopping will, when the entire development has been completed, provide over 1,440,409 sq. feet of commercial space. It is anticipated the Cityplaza will be visited by upwards of 200,000 persons per day on busy shopping days, of whom a large proportion will have come from less well provided areas outside Taikoo Shing. With the establishment of the new harbour crossing Swire anticipates that Cityplaza with its associated car-parking, recreational and restaurant facilities, will become an attractive shopping centre for persons living in the eastern part of Kowloon and the New Territories. The estate will, when completed, provide off-street car parking facilities for approximately 5,700 vehicles. A public omnibus terminus and depot has been provided by Swire in Cityplaza I and as this inter connects with the Taikoo Shing Mass Transit Railway Station it provides a major public transport interchange.
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Within the context of Hong Kong therefore, it is submitted, Taikoo Shing is entitled to be treated not as though it were simply a residential estate, but as an entire town. It also forms the nucleus of the expanding Quarry Bay area which with its residential, commercial and industrial developments is ultimately planned to have a population outside Taikoo Shing well in excess of 100,000. As such Taikoo Shing and its environs must be fully linked in the most direct and convenient possible way with all road and other systems by which communication are maintained throughout the Territory.