MONDAY, MARCH 5, 1984
8
MR TODD REAFFIRMED GOVERNMENT'S INTENTION TO REDEEM OUTSTANDING LAND EXCHANGE ENTITLEMENTS AS QUICKLY AS POSSIBLE.
HE SAID AN INCREASING NUMBER OF SITES IN THE NEW TERRITORIES WOULD THEREFORE BE OFFERED FOR SALE UNDER THE PRESENT +VINTAGE+ SYSTEM WITH THE ALTERNATIVE OF TENDERING MONETISED LETTER B ON A CASH EQUIVALENT BASIS.
PROSPECTIVE TENDERS WILL ALSO BE GIVEN THE OPTION OF PAYING THE PREMIUM FOR THE SCIENCE MUSEUM ROAD SITE BY MONETISED LETTER B.
THIS IS ONE OF THE MAJOR URBAN SITES WHICH THE FINANCIAL SECRETARY SAID WOULD BE SUITABLE TO PROVIDE AN INCENTIVE FOR LETTER B HOLDERS TO SURRENDER THEIR ENTITLEMENTS IN THIS MANNER.
MR TODD SAID IN ADDITION TO THE 21 SITES ON THE PROVISIONAL SALES FORECAST THERE WERE MORE THAN 50 SITES ON THE APPLICATION LIST WHICH COULD BE PROCESSED FOR SALE BY AUCTION OR TENDER WHERE GENUINE INTEREST WAS EXPRESSED.
A PROSPECTIVE PURCHASER SHOULD INITIALLY APPROACH EITHER THE CHIEF ESTATE SURVEYOR/DISPOSAL IN LANDS DEPARTMENT HEADQUARTERS OR THE LANDS OFFICE IN THE DISTRICT WHERE A SITE WAS LOCATED, HE SAID.
MR TODD POINTED OUT THAT THE APPLICATION LIST INCLUDED SITES FOR WHICH THERE WAS LITTLE DEMAND IN THE PRESENT MARKET OR WHICH HAD BEEN OFFERED UNSUCCESSFULLY IN THE PAST.
A LARGE PROPORTION WERE FOR INDUSTRIAL USE OR FOR LOW
DENSITY RESIDENTIAL DEVELOPMENT.
HE SAID DUE TO THE DICTATES OF THE MARKET AND THE GOVERNMENT'S FLEXIBLE APPROACH IT WAS LIKELY THAT THE APPLICATION LIST.
INTRODUCED A YEAR AGO, WOULD REMAIN A FEATURE OF THE LAND SALES PROGRAMME IN THE FORESEEABLE FUTURE.
MR TODD EMPHASISED THAT THE SALE PROGRAMME WAS PROVISIONAL AND SUBJECT TO CHANGE, AND DETAILS WOULD BE PUBLISHED IN THE GOVERNMENT GAZETTE AND MAJOR NEWSPAPERS.
COPIES OF THE LAND SALES FORECAST ARE AVAILABLE FROM LANDS DEPARTMENT HEADQUARTERS, MURRAY BUILDING, THIRD FLOOR,
GARDEN ROAD, HONG KONG OR AT ANY OF THE DISTRICT LANDS OFFICES THROUGHOUT THE TERRITORY.
PLANS SHOWING THE LOCATION OF THE VARIOUS LOTS CAN ALSO BE INSPECTED AT THESE OFFICES.