F
126
CONFIDENTIAL # 3
9
16.
(b) Capital expenditure on
building and construction
According to the preliminary GDP estimate for 1989, expenditure on building and construction by the public sector (including the Mass Transit Railway Corporation and Kowloon-Canton Railway Corporation) grew by 9% in 1989, while that by the private sector grew by 43. Taken together, overall expenditure on building and construction rose by 5% in 1989, after
an increase of only lê in 1988 (Table 1).
17.
A
Looking ahead, the level of building and construction activity is expected to remain high.
number of newly started projects, such as the Daya Bay Overhead Transmission Lines, Kwai Chung Container Terminal 4 Improvement and Wanchai Government Office
Building Tower III, are expected to gather momentum
in the coming months, while work on the existing projects is likely to remain intensive. Analysed by components, major private sector building projects in progress included the office and commercial development in Ice House Street, the Hang Seng Bank New Headquarters Building, and residential developments at Greenfield Garden, Belvedere Garden, Sun Tuen Mun Centre and Laguna City. Major private
sector civil engineering projects in progress included Kwai Chung Container Terminal 7 and the Tate's Cairn Tunnel. Major public sector projects in progress included new estates in the public housing programme, the Tseung Kwan O Tunnel, the New Territories Circular Road Improvement, the Pamela Youde Hospital, and the Hong Kong University of
Science and Technology.
CONFIDENTIAL # 3