MONDAY, MAY 29, 1989
7
THE OTHER LOT FOR THE SAME SHEUNG SHUI.
PURPOSE IS LOCATED
IN AREA
AB.
BIDDING STARTED AT $45 MILLION AND THE LOT BIRD DEVELOPMENT LTD. FOR $86 MILLION.
WAS
то SOLD
JADE
IT COVERS
AN AREA
OF ABOUT 5,911 SQUARE METRES AND THE THAN 17,733 DEVELOPER HAS TO COMPLETE A GROSS FLOOR AREA OF NOT LESS SQUARE METRES BEFORE JUNE 30, 1992.
THE THIRD LOT, WHICH IS FOR PRIVATE LOCATED IN AREA 41A, SHA TIN NEW TOWN.
RESIDENTIAL
PURPOSES.
IS
BIDDING STARTED AT $2.5 MILLION AND THE LOT WAS BOUGHT BY WORLD RICH INVESTMENT CO, LTD. FOR 94.6 MILLION.
IT COVERS AN AREA OF ABOUT 960 SQUARE METRES AND THE FLOOR AREA OF NOT LESS IS REQUIRED TO COMPLETE A GROSS SQUARE METRES BEFORE JUNE 30, 1992.
DEVELOPER THAN
230
THE AUCTION, HELD AT THE CITY HALL THEATRE, GOVERNMENT LAND AGENT MR NIGEL BURLEY.
WAS CONDUCTED BY
SWAC ENDORSES BOUGHT PLACES SCHEME
(SWAC) TODAY (MONDAY)
THE SOCIAL WELFARE ADVISORY COMMITTEE ENDORSED AN EXPERIMENTAL PROJECT AS A START TO BUY 500 PLACES FROM REGISTERED HOMES FOR THE ELDERLY OVER A 2-YEAR PERIOD AT A TOTAL OF MORE THAN $27 MILLION.
COST
THE PILOT SCHEME WILL BE REVIEWED IN SIX MONTHS AFTER ITS IMPLEMENTATION. TO DECIDE WHETHER THE NUMBER OF BOUGHT PLACES SHOULD BE ADJUSTED.
FUNDING FOR THE EXPERIMENTAL PROJECT WOULD BE SOUGHT FROM THE LOTTERIES FUND. IT IS ENVISAGED THAT THE SCHEME. IF SUCCESSFUL, WOULD BE CONTINUED FOR THE FORESEEABLE FUTURE AS RECURRENT EXPENDITURE UNDER THE SWD VOTE. SUBJECT TO ALLOCATION OF RESOURCES.
ASSISTANT DIRECTOR OF SOCIAL WELFARE MR ALFRED CHỬI. BRIEFED THE MEETING THAT THE PURPOSE OF BUYING PLACES WAS TO PROVIDE FINANCIAL INCENTIVE FOR EXISTING PRIVATE HOMES FOR ELDERLY TO RAISE THEIR STANDARDS AND TO GENERATE THE SUPPLY OF ADDITIONAL PLACES OF AN ACCEPTABLE STANDARD.
SWAC MEMBERS ADVISED THAT PLACES SHOULD BE BOUGHT FROM HOMES THAT WERE REGISTERED IN ANY OF THE CATEGORIES. A1, A2 AND B UNDER THE CURRENT PRIVATE HOMES FOR THE ELDERLY VOLUNTARY REGISTRATION SCHEME.
/THEY ALSO