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THURSDAY, APRIL 1, 1976
THERE IS ALSO STILL A CONSIDERABLE AMOUNT OF NEW SPACE UNDER DEVELOPMENT, THOUGH MUCH OF THIS WILL BE THE POORER TYPE OF ACCOMMODATION IN SECONDARY LOCATIONS.
AS A RESULT OF SUPPLY OUTSTRIPPING DEMAND, AVERAGE RENTALS FOR GRADE A ACCOMMODATION DECLINED BY SOME 16 PER CENT OVER THE YEAR AND BY NEARLY 22 PER CENT FOR GRADE B ACCOMMODATION.
1975 WAS A POOR YEAR FOR THE SUPPLY OF FLATTED FACTORY ACCOMMODATION, WITH ONLY AN ADDITIONAL 2,2 MILLION SQUARE FEET COMPLETED. THIS RESULTED IN A FAIRLY SUBSTANTIAL DECREASE IN THE VACANCY FIGURE, FROM 2.75 MILLION SQUARE FEET AT DECEMBER 1974 TO 1.8 MILLION SQUARE FEET AT THE END OF 1975. OF INTEREST IS THE FACT THAT NEARLY ALL THE INCREASED TAKE-UP OCCURRED IN THE SECOND HALF OF THE YEAR.
HOWEVER, A SLIGHTLY HIGHER OUT-TURN IS EXPECTED FOR 1976, AND THE POSITION SHOULD IMPROVE FURTHER IN 1977.
ALTHOUGH OVERALL RENTS FOR NEW LETTINGS DECLINED AS COMPARED WITH 1974, THE DEMAND FOR AVAILABLE SPACE TOWARDS THE END OF THE YEAR RESULTED IN A REVERSAL OF THE TREND, AND SOME INCREASES WERE RECORDED.
ALSO NOTED IN THE PROPERTY REVIEW IS THE SLOW-DOWN OF MANY REDEVELOPMENT SCHEMES PLANNED IN THE EARLY 1970'S, AND THE QUESTIONABLE CAPACITY OF THE CONSTRUCTION INDUSTRY TO MEET ALL THE DEMANDS LIKELY TO BE MADE OF IT.
COPIES OF THE REVIEW ARE NOW AVAILABLE AT THE GOVERNMENT PUBLICATIONS CENTRE AT $25 EACH.
C.S. VISITS PRINCESS MARGARET HOSPITAL
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THE COLONIAL SECRETARY, SIR DENYS ROBERTS, SPENT TWO HOURS THIS (THURSDAY) AFTERNOON TOUR ING THE NEW PRINCESS MARGARET HOSPITAL AT LAI CHI KOK.
ACCOMPANIED BY THE DIRECTOR OF MEDICAL AND HEALTH SERVICES DR. G.H. CHOA, SIR DENYS BEGAN HIS TOUR BY INSPECTING THE CASUALTY WARD AND THE INFECTIOUS DISEASES UNIT. HE THEN VISITED THE MEDICAL, SURGICAL, ORTHOPAEDIC, AND PAEDIATRICS WARDS.
SIR DENYS WAS PARTICULARLY INTERESTED IN THE HOSPITAL'S GERIATRIC SERVICE, WHICH IS THE LARGEST OF ITS KIND IN HONG KONG.
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