CONFIDENTIAL # Z
11
23.
Comparing the first three quarters of 1989 with the same period in 1988, consents for commercial property showed little change, while consents for
Consents for industrial property decreased by 23%. residential property decreased by 27% in terms of usable floor area, and by 37% in terms of number of units. On the other hand, consents for other types of property increased by 37%. Taken together, planned developments of all types of property were 18% less in terms of usable floor area.
Table 6
24.
(e) Land disposal
The
During the first three quarters of 1989, a total of 22.5 hectares of land were sold at Government auctions and by tender (including Letter A/B tenders), comprising 3 hectares for industrial use and 19.5 hectares for non-industrial use. latter figure includes the disposal by tender of a prime site for offices on Garden Road. During the third quarter, three land auctions were conducted by the Government. Notwithstanding the generally cautious attitude adopted by developers since June, the results of these auctions were reasonably
satisfactory.
25.
968%
Five sites with a total area of 2.8 hectares were taken up in the Tai Po and Yuen Long Industrial Estates in the first three quarters of 1989 (Table 6). Up to the end of September 1989, of the land in the Tai Po Industrial Estate and 40% of the land in the Yuen Long Industrial Estate were either occupied or committed.
G.F. 326
CONFIDENTIAL #