7.05. With the shipping industry turning to containerization a need arose for land to be used in connection with these operations and grants were made to two of the established Wharf Companies for the construction of container freight stations to be used in conjunction with their existing facilities.
Urban Estate Division
7.06. The Urban Estate Division is divided into two sections, one each for Hong Kong and Kowloon. The Division deals with all sales, new leases and allocations of Crown Land on Hong Kong Island and in Kowloon and New Kowloon, and the general administration and control of Crown land in the urban area. As a result of the revival of the property market the system of regular sales in accordance with six monthly programmes published in advance was re-introduced and there were 74 sales by auction and tender compared with 17 during the previous year.
7.07. Grant of land by private treaty and allocations of land for Government projects continued at a high level of activity. The number of private treaty grants made during the year was 30.
7.08. Statistical details concerning land transactions are given at Appendix T.
Property Management Division
7.09. The Property Management Division is responsible for the letting and management of premises owned but not occupied by Government and it conducts negotiations for the letting of Government buildings and piers which are not required for the time being for Government purposes or which are intended for non-Government use. It also manages buildings on former leased land which have reverted to the ownership of the Crown either through re-entry, or through expiry of leases.
7.10. During the year the amount of rent which the Division was responsible for collecting totalled about $7 million. Owing to revival of interest in the property market, the number of cases of failure to pay instalments of premium by Crown lessees and the number of instances where Crown lessees did not take up renewals of leases diminished considerably. Further, the buoyant conditions enabled a number of dispossessed former owners to pay outstanding premium and interest and thus apply successfully for cancellation of re-entry in respect
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