THURSDAY, NOVEMBER 27, 1986
+OF PARTICULAR NOTE, BECAUSE ON IT WILL DEPEND MUCH OF THE FUTURE GROWTH OF THE ECONOMY, HAS BEEN THE INCREASED SUPPLY, AND STRENGHTENING DEMAND, FOR INDUSTRIAL PROPERTY, THE HIGHER LEVEL OF RETAINED IMPORTS FOR CONSTRUCTION MACHINERY, AND THE INCREASE, IN REAL TERMS, IN THE VALUE OF CONSTRUCTION WORK BEING UNDERTAKEN.
+TAKEN TOGETHER, THESE TRENDS INDICATE THE INCREASING ACTIVITY IN THE AREAS THAT ARE ESSENTIAL TO SUSTAIN AND EXPAND THE ECONOMIC WELL-BEING OF HONG KONG IN THE LONG TERM, HE SAID.
TURNING TO THE PUBLIC HOUSING PROGRAMME, SIR DAVID SAID IT HAD BECOME ONE OF THE MAJOR CONTRIBUTORS TO HONG KONG'S PROSPERITY. HE NOTED THAT PRODUCTION OF PUBLIC HOUSING OVER THE NEXT FOUR YEARS, INCLUDING HOME OWNERSHIP FLATS, WOULD AMOUNT TO OVER 196 000 HOUSEHOLD UNITS WHILE PRIVATE SECTOR PRODUCTION WOULD AMOUNT TO OVER 100 000,
+ IN OTHER WORDS, TAKING THE PUBLIC AND PRIVATE SECTOR TOGETHER WE WILL HAVE PRODUCED HOUSING FOR ONE MILLION PEOPLE, IN THE NEXT FOUR YEARS.+
HOWEVER, HE ADDED, DESPITE THIS IMPRESSIVE FIGURE, POPULATION GROWTH, A DECLINE IN FAMILY SIZE, THE NEED TO REDEVELOP AGAIN AND OUTMODED PROPERTY, SEEMED TO INDICATE THAT THERE WOULD BE A NEED TO SUSTAIN THIS RATE OF PRODUCTION WELL INTO THE FUTURE.
ON URBAN REDEVELOPMENT, SIR DAVID SAID ONE OF THE BIGGEST OBSTACLES TO IT HAD BEEN THE ASSEMBLY OF SITES, HAMPERED BY THE MULTIPLICITY OF OWNERS WHO COULD NOT BE BROUGHT TOGETHER TO WORK OUT A REDEVELOPMENT SCHEME.
IN THIS RESPECT, HE SAID, THE LAND DEVELOPMENT CORPORATION WOULD BE EMPOWERED TO NEGOTIATE WITH OWNERS, TO MAKE OFFERS FOR RE DEVELOPMENT OF THEIR PROPERTY AND TO HOLD THE PROPERTY UNTIL SUCH TIME AS A REDEVELOPMENT SCHEME WAS READY TO PROCEED.
+RESUMPTION WILL HAVE TO BE USED TO PREVENT SCHEMES FROM FOUNDERING BECAUSE ONE OR TWO OWNERS, FOR WHATEVER REASON, ARE UNABLE TO COOPERATE, BUT BEFORE RESUMPTION TAKES PLACE, A PANEL OF ASSESSORS WILL ENSURE THAT THE OFFERS TO THE OWNERS ARE FAIR AND REASONABLE.
+THE PANEL WILL TAKE INTO ACCOUNT ALL THE CIRCUMSTANCES, AND NOT BASE ITS JUDGEMENT ON A SIMPLE VALUATION BASED ON EXISTING USE, HE SAID.
/IN REDEVELOPING