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TUESDAY, JANUARY 27, 1976
MORE FACTORIES GOING UP IN TSUEN WAN NEW TOWN
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TEN NEW FACTORY BUILDINGS WERE COMPLETED OR PARTIALLY COMPLETED IN TSUEN WAN NEW TOWN BETWEEN OCTOBER AND DECEMBER LAST YEAR WHILE A FURTHER 23 WERE UNDER CONSTRUCTION. PLANS FOR 17 MORE WERE APPROVED.
THIS INDICATION OF INDUSTRIAL DEVELOPMENT IN TSUEN WAN IS CONTAINED IN THE QUARTERLY REPORT OF THE TOWN'S WORKS PROGRESS COMMITTEE FOR THE PERIOD OCTOBER 1 TO DECEMBER
31, 1975.
ONE OF THE PLANS APPROVED WAS FOR A TEXTILE FACTORY WITH A POTENTIAL WORK FORCE OF MORE THAN 19,000. THE MAJORITY OF THE INDUSTRIAL BUILDINGS ARE EITHER TEXTILE FACTORIES OR GODOWNS THEY ARE BEING BUILT LARGELY BY EXISTING FIRMS WANTING TO EXPAND OPERATIONS. THE PRICE BEING BID FOR INDUSTRIAL LAND IN THE AREA IS ABOUT $160 PER SQ. FT.
BESIDES INDUSTRIAL BUILDINGS, SIX OTHER BUILDINGS WERE COMPLETED OR PARTIALLY COMPLETED- 23 WERE UNDER CONSTRUCTION AND THE GO-AHEAD WAS GIVEN FOR 35 FURTHER BUILDINGS TO BE CONSTRUCTED.
ESTATE STAFF ATTACHED TO THE DISTRICT OFFICE, TSUEN WAN, NEGOTIATED MORE THAN 50 OTHER TRANSACTIONS DURING THE QUARTER, INCLUDING PRIVATE TREATY GRANTS, EXCHANGES, MODIFICATIONS AND SHORT-TERM TENANCIES. ONE OF THE BIGGEST DEALS INVOLVED A $200 MILLION PRIVATE DEVELOPMENT.
MUCH OF THE PRESENT INDUSTRIAL EXPANSION OF TSUEN WAN NEW TOWN IS TAKING PLACE IN SOUTH KWAI CHUNG ON LAND RECLAIMED FROM GIN DRINKER'S BAY, BUT THE EMPHASIS WILL SHIFT EVENTUALLY TO DEVELOPMENT, BOTH INDUSTRIAL AND RESIDENTIAL, OF NORTH TSUEN WAN.
ALREADY THE NEW TERRITORIES' MOST POPULOUS TOWN, TSUEN WAN WILL HAVE BY 1985 ABOUT 850,000 PEOPLE, OR ROUGHLY DOUBLE THE PRESENT NUMBER LIVING THERE.
THE READY AVAILABILITY OF MANPOWER TO WORK IN THE GROWING NUMBER OF FACTORIES IS A MAJOR CONSIDERATION TO AN INDUSTRIALIST LOOKING FOR A SITE FOR HIS FACTORY SO IS THE TOWN'S PROXIMITY TO THE CONTAINER BERTHS, OF WHICH THERE WILL BE SIX EVENTUALLY.
BESIDES TSUEN WAN ITSELF, THE NEW TOWN TAKES IN KWAI CHUNG AND TSING YI ISLAND. THE ISLAND IS PROVING AN ATTRACTIVE SITE FOR SETTING UP FACTORIES TO BOTH LOCAL AND OVERSEAS MANUFACTURERS. TENDERS ARE NOW BEING INVITED FOR A SITE ON THE ISLAND TO BE USED EXCLUSIVELY AS A SHIP- BUILDING AND SHIP-REPAIRING YARD.
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