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TUESDAY, APRIL 28, 1981
* AS NECESSARY, TO PROVIDE THE SERVICES OF A CONSULTANT TO IMPLEMENT RECOMMENDATIONS APPROVED AND ACCEPTED BY THE GOVERNMENT.
A PRELIMINARY REPORT IS EXPECTED TO BE SUBMITTED TO THE GOVERNMENT IN JUNE AND THE FULL STUDY WILL TAKE ABOUT 20 WEEKS TO COMPLETE.
SUBSTANTIAL SUPPLY OF FACTORY SPACE AVAILABLE
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DESPITE REFERENCES TO THE SHORTAGE OF LAND AFFECTING THE PACE AND PATTERN OF HONG KONG'S INDUSTRIAL GROWTH, PARADOXICALLY THE SUPPLY OF FLATTED FACTORY SPACE IS SUBSTANTIAL AND GROWING. SAID THE DIRECTOR OF TRADE INDUSTRY AND CUSTOMS, MR BILL DORWARD TODAY (APRIL 28).
SPEAKING AT THE PRIZE PRESENTATION CEREMONY OF THE 1981 NEW PRODUCTS COMPETITION ORGANISED BY THE CHINESE MANUFACTURERS' ASSOCIATION, MR DORWARD CONCURRED WITH A SUGGESTION THAT ONE REASON WHY RENTS AND SALE PRICES OF FLATTED FACTORY SPACE HAD HELD UP DESPITE THE SHARP GROWTH AND THE AMOUNT OF VACANT SPACE NEARLY FIVE PER CENT AT THE END OF 1980 WAS THAT THERE WAS A MISMATCH.
+THAT IS TO SAY, THE SPACE IS EITHER IN THE WRONG PLACE OR IS OF THE WRONG TYPE TO MEET DEMAND.
+THERE IS UNDOUBTEDLY SOMETHING IN THIS, SAID MR DORWARD. +THE HIGHEST VACANCY RATE IS IN TUEN MUN- THE LOWEST IN KOWLOON. RENTS ARE, NOT SURPRISINGLY THEREFORE, ABOUT TWICE AS HIGH IN KOWLOON AS IN TUEN MUN.
+LIKEWISE GROUND FLOOR SPACE COMMANDS ROUGHLY DOUBLE THE RENTS OF HIGHER FLOORS, BECAUSE OF EASY ACCESS AND HIGHER FLOOR LOADING CAPACITY AND DEMAND IS STRONG FOR SMALL UNITS OF UP TO 100 SQUARE METRES, HE SAID.
MR DORWARD ADDED THAT THESE PROBLEMS SHOULD BE SUBSTANTIALLY EASED BY SEVERAL DEVELOPMENTS.
+THE FORECAST FOR 1982 IS FOR AN ADDITIONAL 1.7 MILLION SQUARE METRES. THAT IS THE HIGHEST ANNUAL FIGURE EVER PROJECTED, AND IS ONLY A LITTLE LESS THAN THE TOTAL SPACE PRODUCED IN THE FIVE YEARS FROM 1972 TO 1976, HE SAID.
THE SHIFT OF POPULATION TO THE NEW TOWNS, WHICH WAS ACCELERATING, WOULD MAKE INDUSTRIAL DEVELOPMENT THERE A GOOD DEAL MORE ATTRACTIVE. IN TUEN MUN, AT THE END OF 1979, 40 PER CENT OF THE AVAILABLE FACTORY SPACE WAS VACANT AND A SUBSTANTIAL INCREASE IN STOCK TOOK PLACE IN 1980 AND IS SCHEDULED FOR 1981.
+ABOUT 10 000 NEW HOUSING UNITS WERE COMPLETED LAST YEAR AND OVER 5 000 ARE DUE TO BE COMPLETED THIS YEAR, SAID MR DORWARD. +INSOFAR AS LABOUR SHORTAGE HAS BEEN A DETERRENT IN THAT AREA, THEREFORE, THE SITUATION IS OBVIOUSLY IMPROVING SIGNIFICANTLY- AT THE END OF 1980 VACANT FACTORY SPACE HAD DROPPED TO 7.6 PER CENT.
/COMMUNICATIONS SUCH