THE
ASIDE FROM THIS AMOUNT, SOME REVENUE WILL EVENTUALLY GO TO GOVERNMENT INDIRECTLY IN THE FORM OF DIVIDEND AVAILABLE TO THE GOVERNMENT AS THE SHAREHOLDER OF THE AIRPORT AUTHORITY AND THE AIRPORT RAILWAY, AS THEIR REVENUES REACH A LEVEL WHICH ENABLES THEM TO MORE THAN SERVICE THEIR DEBT.
"WITH CAREFUL FINANCIAL MANAGEMENT, THE MAJOR SPENDING ON THE KEY AIRPORT PROJECTS CAN BE MANAGED WHILST STILL KEEPING GROWTH OF PUBLIC EXPENDITURE TO A REASONABLE LEVEL AND KEEPING HONG KONG'S FINANCIAL POSITION HEALTHY THROUGH 1997 AND BEYOND,' THE SPOKESMAN SAID.
*
GOVT LAND SOLD FOR $610M
*
FOUR LOTS OF GOVERNMENT LAND WERE SOLD FOR A TOTAL OF $610 MILLION AT A PUBLIC AUCTION THIS (TUESDAY) AFTERNOON.
A LOT AT AREA 6, MA WO, TAI PO WAS BOUGHT BY MERRY MILES LTD FOR $197 MILLION, BIDDING OPENED AT $100 MILLION.
THE LOT, WHICH MEASURES 9,820 SQUARE METRES, IS FOR PRIVATE RESIDENTIAL PURPOSES.
HAS ΤΟ BE
OF
ACCORDING TO THE BUILDING COVENANT, A GROSS FLOOR AREA
NOT LESS THAN 14,140 SQUARE METRES
COMPLETED ON OR BEFORE DECEMBER 31, 1994.
WITH THE SECOND LOT,
AN AREA OF 5,194 SQUARE METRES, IS LOCATED AT LAM WAH STREET, KOWLOON BAY. IT IS FOR NON-INDUSTRIAL PURPOSES.
BIDDING OPENED AT $180 MILLION AND THE LAND WAS BOUGHT BY SHIN CHAK DEVELOPMENT LTD FOR $184 MILLION.
THE DEVELOPER HAS TO COMPLETE A GROSS FLOOR AREA THAN 31,800 SQUARE METRES ON OR BEFORE DECEMBER 31, 1994.
OF NOT LESS
STREET AND ON YIP THE THIRD LOT, AT THE JUNCTION OF SUN YIP STREET, CHAI WAN, IS ALSO FOR INDUSTRIAL AND/OR GODOWN PURPOSES.
BIDDING OPENED AT $80 MILLION AND THE LOT WAS BOUGHT BY KENEVA COMPANY LTD FOR $104 MILLION.
THE LOT COVERS AN AREA OF 2,383 SQUARE METRES AND THE DEVELOPER HAS TO COMPLETE A GROSS FLOOR AREA NOT OF LESS THAN 21,447 SQUARE METRES ON OR BEFORE DECEMBER 31, 1994.
FOR
INDUSTRIAL
AND/OR GODOWN
PURPOSES,
THE FOURTH LOT, LOCATED AT ON PING STREET, SHA TIN. IT MEASURES 4,724 SQUARE METRES.
IS
/THE LOT