WEDNESDAY, OCTOBER 6, 1982
10
ABOUT 994 HECTARES OF NET LAND AREA WILL BECOME AVAILABLE IN THIS FINANCIAL YEAR, 500 IN THE URBAN AREA AND 494 IN THE NEW TERRITORIES. IN 1983-84, 593 HECTARES IS EXPECTED TO BECOME AVAILABLE, AND IN 1984-85, 596 HECTARES, HE POINTED OUT.
THE GOVERNOR SAID THAT HIGH INTEREST RATES HAD RECENTLY CAUSED DEVELOPERS TO BE MORE CAREFUL ABOUT ACQUIRING LAND.
+THIS MAKES IT EVEN MORE IMPORTANT THAT WE HAVE LAND OF THE RIGHT SORT AVAILABLE FOR DISPOSAL TO THE PRIVATE SECTOR. THE SPECIAL COMMITTEE ON LAND SUPPLY HAS THE TASK OF MONITORING THIS SITUATION,
*WHILE KEEP ING A CLOSE WATCH ON THE SHORT-TERM NEEDS OF THE PRIVATE SECTOR THE COMMITTEE WILL ALSO TAKE A LONG TERM VIEW OF THE OVERALL NEEDS OF THE ECONOMY AND THE COMMUNITY IN GENERAL, + THE GOVERNOR SAID.
REFERRING TO PRIVATE SECTOR PARTICIPATION IN LAND PRODUCTION, SIR EDWARD SAID THE WORK ING GROUP RECOMMENDED THAT THREE MAJOR AREAS (TOTALLING 30 HECTARES) IN THE URBAN AREAS, AND SITES IN THE NEW TOWN DEVELOPMENT AREAS AMOUNTING TO OVER 100 HECTARES (EXCLUDING THE KWAI CHUNG CONTAINER PORT) WERE SUITABLE FOR DISPOSAL TO THE PRIVATE SECTOR AND THAT THIS SHOULD BE DONE AS SOON AS POSSIBLE.
THE WORKING GROUP ALSO STUDIED THE POTENTIAL FOR LARGE SCALE COMPREHENSIVE DEVELOPMENT BY THE PRIVATE SECTOR, AND IDENTIFIED JUNK BAY NEW TOWN AS SUITABLE FOR THE CREATION OF A LARGE PACKAGE FOR COMPREHENSIVE DEVELOPMENT BY THE PRIVATE SECTOR IN THE CONTEXT OF THE PLANNING OF THE NEW TOWN THERE.
+FURTHER POSSIBILITIES FOR THIS SORT OF PRIVATE SECTOR INVOLVEMENT IN LAND FORMATION AND ENGINEERING WORK EXIST, BUT CANNOT BE PURSUED UNTIL MAJOR STRATEGIC PLANNING STUDIES ARE COMPLETED IN 1983, + HE SAID.
THE GOVERNOR SAID THAT THE LAND EXCHANGE ENTITLEMENT SYSTEM INTRODUCED IN 1960 HAD RUN INTO DIFFICULTIES, IN PART BECAUSE MORE OF THE DEVELOPMENT LAND PRODUCED HAD BEEN TAKEN UP TO MEET THE NEEDS OF GREATLY EXPANDED HOUSING AND RELATED PROGRAMMES.
THE OUTSTANDING LETTER B COMMITMENT, HE SAID, IS NOW SOME 40 MILLION SQUARE FEET ON AN AGRICULTURAL LAND BASIS.
+ IN THESE CIRCUMSTANCES, THE GOVERNMENT HAS REACHED THE CONCLUSION THAT LAND EXCHANGE ENTITLEMENTS SHOULD CEASE TO BE ISSUED WITH EFFECT FROM THE EARLIEST POSSIBLE DATE.
+THE IMPLICATIONS OF THIS ARE BEING DISCUSSED WITH THE HEUNG YEE KUK, SIR EDWARD SAID.
IN ADDITION, THE GOVERNMENT IS CAREFULLY CONSIDERING WAYS OF REDUCING THE OUTSTANDING LETTER B COMMITMENT WITHIN A MUCH SHORTER PERIOD THAN WOULD BE POSSIBLE UNDER THE CURRENT PRACTICE OF OFFERING ABOUT 45 PER CENT OF SITES IN THE NEW TERRITORIES FOR DISPOSAL OF LETTER B TENDER.
/SIR EDWARD .....................