4
THURSDAY, DECEMBER 12, 1985
+ IT SHOWS THE CONTINUED CONFIDENCE OF INVESTORS AND
DEVELOPERS IN THE PROPERTY MARKET,
+ IT WAS ABOUT THE TOP PRICE WE HAD ESTIMATED AND WOULD HAVE BEEN SURPRISED HAD THE BIDS GONE BEYOND $200 MILLION,+ HE SAID.
BIDDING FOR THE SITE WAS BRISK, RISING RAPIDLY AT $1 MILLION BIDS FROM THE OPENING PRICE OF $140 MILLION. THERE WAS A KEEN COMPETITIVE ATMOSPHERE EMPHASISED BY THE SCATTERING OF APPLAUSE THROUGH THE CITY HALL THEATRE.
AFTER THE AUCTION MR MILLS EXPLAINED THAT THE SITE, NEXT TO THE BOTANICAL GARDENS, HAD PREVIOUSLY BEEN OCCUPIED BY GOVERNMENT QUARTERS.
THE BUILDING CONDITIONS CALL FOR THE SITE TO BE DEVELOPED FOR RESIDENTIAL PROPERTY WITH A GROSS FLOOR AREA OF NOT LESS THAN 11 630 SQUARE METRES.
THE BRISK BIDDING OF THE FIRST LOT CARRIED OVER TO THE SECOND LOT, A 800-SQUARE-METRE SITE ON KENNEDY ROAD JUST TO THE WEST OF THE PEAK TRAM LINE.
BIDDING OPENED AT $45 MILLION AND WENT UP BY $1 MILLION BIDS TO $55 MILLION WHEN IT WAS KNOCKED DOWN TO ALBO NEW COMPANY, A SUBSIDIARY OF SUN HUNG KAI.
ALBO TOWN COMPANY LIMITED, ANOTHER SUBSIDIARY OF SUN HUNG KAI BOUGHT THE THIRD LOT, A 1 521-SQUARE-METRE INDUSTRIAL SITE AT CHAI WAN FOR $14.7 MILLION. BIDDING OPENED AT $12 MILLION.
THE FINAL SITE AT THE AUCTION, 2 554 SQUARE METRES OF LAND ON TSING YI ISLAND WAS SOLD TO SOU LAM COMPANY LIMITED FOR $7 MILLION.
NEED FOR FAMILY PLANNING STRESSED ****
FAMILY PLANNING WAS ESSENTIAL FOR A HAPPY AND STABLE SOCIETY, LADY YOUDE, WIFE OF THE GOVERNOR, SAID TODAY.
AND IT WAS NECESSARY TO STRESS THE IMPORTANCE OF FAMILY
PLANNING TO HONG KONG'S YOUNG PEOPLE, SHE ADDED.
SPEAKING AT THE 30TH ANNUAL GENERAL MEETING OF THE FAMILY PLANNING ASSOCIATION, LADY YOUDE SAID SHE HAD BEEN MOST IMPRESSED BY THE SUCCESS WITH WHICH THE ASSOCIATION WAS SPREADING THE MESSAGE THAT +A PLANNED FAMILY IS A HAPPY ONE.
THE ASSOCIATION, SHE SAID, HAD ALREADY ACHIEVED SUCCESS THROUGH CLINICS, CAMPAIGNS AND EXHIBITIONS.
/+FROM WHAT