THURSDAY, APRIL 2, 1992
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TENDERS INVITED FOR NORTH LANTAU EXPRESSWAY
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THE HIGHWAYS DEPARTMENT IS INVITING TENDERS FROM PREQUALIFIED TENDERERS FOR THE CONSTRUCTION OF THE YAM 0 SECTION OF THE NORTH LANTAU EXPRESSWAY BETWEEN TSING CHAU TSAI IN THE EAST AND TA PANG PO IN THE WEST ON THE LANTAU ISLAND.
A SPOKESMAN FOR THE DEPARTMENT SAID THE YAM о SECTION WOULD BE THE SECOND SECTION OF A DUAL-THREE-LANE EXPRESSWAY ΤΟ BE CONSTRUCTED ALONG THE NORTHERN COASTLINE OF LANTAU.
"IT WILL FORM PART OF AN EXTENSIVE TRANSPORT NETWORK TO PROVIDE DIRECT ACCESS TO THE NEW AIRPORT AND DEVELOPMENT ON LANTAU ISLAND," THE SPOKESMAN SAID,
THE ROADWAY WILL BE BUILT ON RECLAMATIONS AND ELEVATED STRUCTURES OR IN CUTTINGS.
THE CONTRACT WILL ALSO INCLUDE SITE FORMATION FOR THE AIRPORT RAILWAY AND A RESERVE FOR PUBLIC UTILITIES.
PREQUALIFICATION WAS ASSESSED ON FINANCIAL AND TECHNICAL CAPABILITIES OF THE TENDERERS, THE SPOKESMAN SAID.
YEAR.
THE CLOSING DATE FOR SUBMISSION OF TENDERS IS JUNE 26 THIS
THE AWARD OF THE CONTRACT WILL BE MADE LATER THIS YEAR AND THE CONSTRUCTION IS EXPECTED TO BE COMPLETED IN FOUR YEARS.
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PROPERTY REVIEW 1992 PUBLISHED
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THE RATING AND VALUATION DEPARTMENT HAS PUBLISHED THE "PROPERTY REVIEW 1992" WHICH PROVIDES A SUMMARY OF SUPPLY, TAKE-UP, VACANCY. AND RENTAL AND PURCHASE PRICE MOVEMENTS FOR MAJOR SECTORS OF THE PROPERTY MARKET LAST YEAR.
COMMENTING ON THE RENTAL AND PRICE INDICES WHICH WERE NOT INCLUDED IN THE PRELIMINARY RESULTS RELEASED ON FEBRUARY 14 THIS YEAR, A SPOKESMAN FOR THE DEPARTMENT SAID OVER LAST YEAR PRICES OF DOMESTIC PROPERTIES HAD INCREASED MUCH MORE THAN RENTALS, RESULTING IN A DECLINE IN THE YIELD FOR INVESTMENT IN THIS TYPE OF PROPERTY,
THIS WAS PARTICULARLY NOTICEABLE IN RESPECT OF NEWLY COMPLETED SMALL AND MEDIUM FLATS WHERE IN SOME CASES THE YIELD MIGHT BE AS LOW AS 4 PER CENT, HE SAID.
/THE SPOKESMAN