FRIDAY, APRIL 28, 1978
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PRIVATE DEVELOPERS INVITED TO
PARTICIPATE IN HOME OWNERSHIP SCHEME
******
PRIVATE SECTOR DEVELOPERS ARE BEING INVITED TO PARTICIPATE IN THE GOVERNMENT'S HOME OWNERSHIP SCHEME, A SENIOR OFFICER IN THE HOUSING BRANCH OF THE GOVERNMENT SECRETARIAT REVEALED TODAY (FRIDAY).
MISS ELAINE CHUNG, PRINCIPAL ASSISTANT SECRETARY FOR HOUSING, TOLD A LUNCHEON MEETING OF THE ROTARY CLUB OF HONG KONG ISLAND WEST THAT TENDER NOTICES APPEARED IN TODAY'S GOVERNMENT GAZETTE AND THE PRESS CALLING FOR PRIVATE SECTOR PARTICIPATION IN GOVERNMENT'S EFFORTS TO PROMOTE HOME OWNERSHIP AMONG LOWER MIDDLE INCOME FAMILIES. SHE DESCRIBED THIS MOVE AS +A BIG STEP FORWARD.+
MISS CHUNG SAID IT WAS FORECAST EARLY IN 1977 THAT MORE THAN 30,000 ELIGIBLE FAMILIES WOULD APPLY FOR HOME OWNERSHIP SCHEME FLATS AND THAT THE NUMBER OF FLATS TO BE BUILT BY THE HOUSING AUTHORITY UNDER PHASE OF THE SCHEME WOULD BE INSUFFICIENT TO MEET THIS DEMAND.
MISS CHUNG SAID THE ACTUAL DEMAND FOR HOME OWNERSHIP SCHEME FLATS, IN THE EVENT, HAD EXCEEDED THIS FIGURE BY 26 PER CENT.
+ON THE BASIS OF THIS 1977 FORECAST, IT WAS CONSIDERED DESIRABLE TO INCREASE THE STOCK OF SUITABLE FLATS TO MEET THE EFFECTIVE DEMAND, MISS CHUNG SAID. +ONE POSSIBILITY IS. TO ASK THE HOUSING AUTHORITY TO BUILD MORE. BUT THAT WOULD BE A FURTHER BURDEN ON THE ALREADY HARD-PRESSED CONSTRUCTION BRANCH OF THE HOUSING DEPARTMENT. AN ALTERNATIVE WOULD BE TO GET THE PRIVATE SECTOR TO BUILD THESE FLATS.+
MISS CHUNG SAID THE LATTER IDEA OFFERED CERTAIN ATTRACTIONS, FIRST, GOVERNMENT WOULD BE ABLE TO MAKE USE OF THE EXPERTISE WHICH ALREADY EXISTED IN THE PRIVATE SECTOR SECOND, HOME PURCHASERS WOULD BE OFFERED MORE VARIETY IN THE DESIGN, LAYOUT AND STANDARDS OF FLATS AND ASSOCIATED FACILITIES AND THIRD, THE SCHEME WOULD ASSIST THE GOVERNMENT IN DECIDING THE MOST SUITABLE PRIVATE/PUBLIC MIX OF HOUSING IN HONG KONG.
+SUCH A SCHEME IS, PERHAPS, EASIER SAID THAN DONE,+ MISS CHUNG CONTINUED. +EVEN THOUGH MOST PRIVATE COMPANIES IN HONG KONG ARE CIVIC MINDED AND CONSCIOUS OF THEIR SOCIAL OELIGATIONS, THEY EXIST FIRST AND FOREMOST TO MAKE A PROFIT AND NOT TO SERVE A SOCIAL PURPOSE. CONFLICTING INTERESTS BETWEEN GOVERNMENT AND THE PRIVATE SECTOR WOULD HAVE TO BE RECONCILED SINCE THE SCHEME MUST SERVE THE PURPOSE OF PROMOTING HOME OWNERSHIP IN THE TARGET INCOME GROUP EARNING BELOW $3,500 PER MONTH, WHICH ALMOST EY DEFINITION CANNOT AFFORD PRIVATE SECTOR FLATS UNLESS THE FAMILY CONCERNED HAS SUBSTANTIAL SAVINGS.+
/IN ADDITION,