94
LAND AND HOUSING
Private building began to lose momentum during 1974, mainly as a result of a reduction in investment in speculative building which become less attractive as high interest rates and the rapidly rising cost of labour and materials checked demand and lowered predictable profit margins. Nevertheless, a total of 718 new building pro- posals were submitted in 1974, compared with 1,104 in 1973, and the total cost of new buildings completed during the year was $1,869 million, an increase of 30 per cent over the figure of $1,429 million for 1973.
Preparations, under the guidance of a Public Works Department steering group, for the planned introduction of metrication into the building industry in 1976 were well in hand by the end of the year. The conversion of the Buildings Ordinance and Regulations, including the new Structural Regulations, into the terms of the Inter- national System of Weights and Measures (AI System) was completed with a view to enactment in 1975.
In the continuing process of reviewing and revising the Buildings Ordinance and Regulations some significant changes were introduced in 1974. The Buildings (Amend- ment) Ordinance 1974 replaced the old title of ‘authorised architect' with 'authorised person'. The register of 'authorised persons' is now divided into three separate lists, one for architects, one for civil, municipal and structural engineers and one for sur- veyors, thus recognising the fact that the statutory duties of authorised architects had for many years been carried out by engineers and surveyors as well as architects. Consequential amendments were also introduced by the Building (Administration) (Amendment) Regulations 1974, the Building (Construction) (Amendment) Regula- tions 1974, and the Building (Demolition Works) (Amendment) Regulations 1974. The Temporary Restriction of Building Development (Pok Fu Lam and Mid-Levels) Ordinance was generally extended in operation until July 31, 1975, but was later amended to delete the Pok Fu Lam area and apply only to Mid-Levels as from January 1, 1975.
Several buildings of note were completed during the year. They included the circular First National City Bank Building in the Central commercial district and the 28-storey Plaza Hotel overlooking Victoria Park. In addition, a start was made on the huge New World Centre complex on the former Holt's Wharf site in Tsim Sha Tsui. The old Wing On department store in Des Voeux Road, Central was demolished to make way for a new 33-storey building. Alexandra House was also demolished to permit redevelopment of the site.
The dangerous buildings division of the Buildings Ordinance Office continued to deal with the demolition or repair of dangerous buildings. Other activities of the division included a survey of potentially dangerous buildings on a planned survey basis, routine reinspection of suspect buildings and increasing action in response to mounting complaints about defective drainage. During the year some 113 buildings were closed and demolished, compared with 421 buildings in 1973; 519 repair notices were served, against 645 the previous year and 203 defective drainage notices were served.
Heavy rain from typhoon Carmen in late October caused the fall of some boulders on to a property in Tai Hang Road. Some damage was caused to the car park structure