MONDAY, DECEMBER 9, 1974
5.
THE NEW RECLAMATION WILL ADD 16 MORE ACRES OF MUCH-NEEDED LAND TO HONG KONG ON COMPLETION SOMETIME IN SEPTEMBER NEXT YEAR.
THE ADDED SPACE WILL BE USED FOR WIDENING CONNAUGHT ROAD, AN EXTENSION TO THE MACAU FERRY WHARF AND FOR A NEW SEWAGE TREATMENT PLANT.
AT PRESENT, PART OF THE RECLAMATION AT THE WESTERN END HAS BEEN FENCED OFF AND IS USED AS A TEMPORARY CARGO HANDLING AREA.
NOTE TO EDITORS:
COPIES OF A PHOTOGRAPH OF THE GOVERNOR'S VISIT TO SHEUNG WAN DISTRICT WILL BE PUT IN THE G.I.S. PRESS BOXES THIS EVENING.
REAL ESTATE ASSOCIATION MEETS COLONIAL SECRETARY
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THE PRESIDENT OF THE REAL ESTATE DEVELOPERS ASSOCIATION OF HONG KONG, MR. HENRY FOK, TOGETHER WITH SEVEN VICE-PRESIDENTS AND DIRECTORS OF THE ASSOCIATION TODAY MET THE COLONIAL SECRETARY, MR. DENYS ROBERTS, AND SENIOR GOVERNMENT STAFF TO DISCUSS THE PROBLEMS FACING PROPERTY DEVELOPERS AND OWNERS.
THE ASSOCIATION REPRESENTATIVES EXPLAINED THE DIFFICULTIES IN THE PROPERTY MARKET AS REFLECTED BY THE LARGE NUMBERS OF FLATS STILL REMAINING UNSOLD EVEN AT REDUCED PRICES.
THE ASSOCIATION WAS PARTICULARLY CONCERNED ABOUT RATES AND STATUTORY CONTROLS. THEY NOTED THAT RATES ARE AT PRESENT PAYABLE IN FULL ON VACANT PREMISES AND THAT THE RATE-FREE PERIOD ON NEWLY COMPLETED PREMISES IS NOW ONLY THREE MONTHS COMPARED WITH SIX MONTHS PREVIOUSLY THAT THE EXISTING CONTROLS ON LUXURY FLATS WERE UNREASONABLE AND INVOLVED FLAT OWNERS IN SUBSIDISING WELL-OFF TENANTS, INCLUDING GOVERNMENT, COMMERCIAL COMPANIES AND THE ARMED SERVICES- AND THAT DEVELOPERS ARE DETERRED FROM GOING AHEAD WITH NEW PROJECTS BY THE LIKELIHOOD THAT THESE NEW PROJECTS WHEN COMPLETED MIGHT BECOME SUBJECT TO THE LANDLORD AND TENANT CONTROLS WHEN THE PRESENT LEGISLATION EXPIRES IN DECEMBER 1976.
THE GOVERNMENT REPRESENTATIVES UNDERTOOK TO LOOK INTO THESE POINTS AND TO GIVE THEM SYMPATHETIC CONSIDERATION.
THEY STRESSED THE IMPORTANCE WHICH THE GOVERNMENT ATTACHES TO THE PRIVATE SECTOR'S CONTRIBUTION TO NEW BUILDING DEVELOPMENT, TO MEET HONG KONG'S GROWING HOUSING REQUIREMENTS.
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