246
LAND, PUBLIC WORKS AND UTILITIES
The new land to be granted is not to exceed 50 hectares a year, excluding land granted to the Hong Kong Housing Authority for public rental housing. (The Land Commission may increase this limit and regularly does.)
The land disposal limit for 1994-95 is 1 410.73 hectares. This includes developments for the new airport, airport railway depot, airport railway property developments at Tai Kok Tsui and Tung Chung stations, Home Ownership Scheme and Sandwich Class Housing Scheme. Premium income obtained from land transactions is shared equally, after deduction of the average cost of land production, between the Hong Kong Government and the future Hong Kong Special Administrative Region Government.
Land grants and leases are normally made for terms expiring not later than June 30, 2047. They are made at premium and nominal rental until June 30, 1997, after which an annual rent equivalent to three per cent of the property's rateable value will apply.
A land sales programme is issued at the beginning of each financial year and updated regularly, showing the details of public auctions and tenders normally held each month. Land in the New Territories is often sold by way of tender, restricted to holders of land exchange entitlements. These entitlements were used in the past for the acquisition of land in the New Territories, but since 1983 are no longer issued.
Although most government land available for private sector development is sold by public auction or tender, land is also made available at nominal premium to the Hong Kong Housing Authority for its public rental estates and Home Ownership Scheme, and to non-profit-making charitable, medical and educational institutions which operate schools, hospitals, and social welfare and other community services.
During the year under review, a site in Chai Wan, with an area of 2.75 hectares, was sold under the Private Sector Participation Scheme. Sites granted to the Housing Authority for the development of Home Ownership Scheme projects included two sites comprising 3.56 hectares in Kowloon East, a 3.65-hectare site in Tseung Kwan O and a 4.7-hectare site in Ma On Shan.
Land for the construction of about 5 000 flats was granted in 1994-95 to the Hong Kong Housing Society for an assisted housing scheme for Hong Kong's 'sandwich class' (those families not eligible for existing public housing assistance but unable to afford private sector flats). This was the second year in which land was granted to the society for the scheme.
Major land transactions included the granting of a 23-hectare site in Tseung Kwan O for the Phase I development of the third industrial estate; a 3.44-hectare site in Kwai Chung for the expansion of the container terminal facilities of Modern Terminals Limited; and a 2.90-hectare site in Aberdeen for the development of a non-profit-making hospital and medical technology exchange centre by the Canadian International Hospital.
In the New Territories, three sites with a total area of 3.55 hectares were offered by restricted tender to holders of land exchange entitlements. These comprised a 1.43-hectare site in Tseung Kwan O and two sites with a total area of 2.12 hectares in Sha Tin. The sites were for commercial and residential use.
Land Registration
The Land Registration Ordinance provides for the registration of all documents affecting land in the Land Registry.