THURSDAY, MAY 13, 1976
6
SHA TIN LAND SOLD FOR $66.5 M
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AN AREA OF SEABED IN SHA TIN COVE, WHICH IS TO BE RECLAIMED AND DEVELOPED FOR RESIDENTIAL PURPOSES, HAS BEEN SOLD TO SHUI HING INVESTMENT COMPANY LIMITED AND YICK FUNG ESTATES LIMITED FOR $66.5 MILLION.
THE AREA TOTALS 20 ACRES, OF WHICH NINE ACRES ARE TO BE HANDED BACK TO GOVERNMENT AFTER RECLAMATION HAS BEEN COMPLETED FOR USE TO BUILD ROADS AND PROVIDE OPEN SPACES. THE BALANCE WILL BE RETAINED BY THE DEVELOPER.
TENDERS CLOSED LAST FRIDAY (MAY 7), BY WHICH TIME A TOTAL OF SEVEN HAD BEEN RECEIVED. THE RECOMMENDATIONS OF A COMMITTEE SET UP IN THE NEW TERRITORIES ADMINISTRATION TO CONSIDER THE TENDERS WERE APPROVED BY THE CENTRAL BOARD.
MR. DAVID WILKINSON, GOVERNMENT LAND AGENT FOR THE NEW TERRITORIES, SAID THE PRICE OBTAINED FOR THE LAND WAS GOOD AND REFLECTED +CONSIDERABLE CONFIDENCE ON THE PART OF PRIVATE BUILDERS IN THE NEW TERRITORIES.+
HE ADDED: +IT IS INDICATIVE OF THE CO-OPERATION NOW TAKING PLACE BETWEEN THE GOVERNMENT AND PRIVATE DEVELOPERS TO SECURE EARLY COMPLETION OF SHA TIN NEW TOWN,
MR. WILKINSON SAID THE PROJECT WOULD MAKE A MAJOR CONTRIBUTION TOWARDS THE PROVISION OF HOMES IN SHA TIN NEW TOWN. IT WOULD ALSO, HE SAID, PROVIDE A VARIETY OF AMENITIES TO SERVE BOTH THE RESIDENTS OF THE PROPOSED ESTATE AS WELL AS THE GENERAL PUBLIC.
THE TENDER CONDITIONS INCLUDE A BUILDING COVENANT FOR $65 MILLION TO BE FULFILLED BY THE END OF 1982. A LEASE WILL BE SIGNED BY GOVERNMENT AND REPRESENTATIVES OF THE TWO COMPANIES NEXT WEDNESDAY (MAY 19).
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