i
WEDNESDAY, JUNE 10, 1992
BUILDING INDUSTRY REACHED NEW PEAK IN 1991
THE BUILDING
REACHED A
INDUSTRY IN HONG KONG
NEW PEAK LAST AND YEAR DESPITE
BUILDINGS A 70% INCREASE IN COSTS, THE DIRECTOR OF LANDS, MR DARWIN CHEN, SAID TODAY (WEDNESDAY).
NINTH SPEAKING AT THE OPENING OF THE
MR CHEN SAID THE AND CONSTRUCTION EXPOSITION,
BUILDING DEVELOPERS' INDICATION OF THE
CONFIDENCE
FUTURE.
INTERNATIONAL
BOOM
IN
BUILDING WAS A CLEAR HONG KONG'S
EXPECTED OTHER MAJOR AND URBAN RENEWAL
HE SAID THE CURRENT BOOM IN THE BUILDING INDUSTRY WAS
THE NEW AIRPORT AND TO GO UP EVEN FURTHER IN VIEW OF INFRASTRUCTURE PROJECTS, DEVELOPMENT OF NEW TOWNS PROGRAMMES UNDER THE METROPLAN.
MR CHEN SAID
HONG KONG
WAS WELL-KNOWN FOR THE CONTINUOUS
BUILDINGS AND PRIVATE SECTOR OF
CHANGES TO ITS SKYLINE THROUGH ITS LARGE NUMBER OF NEW 1991 HAD SEEN A NEW PEAK IN THE ACTIVITIES OF THE THE BUILDING INDUSTRY.
FLOOR
"IN TERMS OF STATISTICS, THE TOTAL USABLE COMPLETED LAST YEAR EXCEEDED FOUR MILLION SQUARE METRES AND OF NEW BUILDINGS COMPLETED AMOUNTED TO A HISTORICALLY HIGH MORE THAN $30 BILLION.
AREAS THE COST FIGURE OF
MANY OTHER PARTS OF
"THIS HAS OCCURRED DURING A PERIOD WHEN THE WORLD HAVE BEEN EXPERIENCING GENERAL ECONOMIC RECESSION.
"IT IS A CLEAR INDICATION OF THE GREAT CONFIDENCE MOST BUILDING DEVELOPERS HAVE IN HONG KONG'S FUTURE," HE SAID.
MR CHEN SAID THE FACT THAT THE COST OF NEW BUILDINGS DEVELOPERS IN 1991 INDICATED THAT NEW HIGH REACHED A PROVIDING ACCOMMODATION WITH BETTER QUALITY,
COMPLETED
WERE
NOW
SQUARE DURING THE
PER "THIS IS BORNE OUT BY THE 70% INCREASE IN THE COST METRE OF USABLE FLOOR AREA, FROM $5,850 IN 1990 TO $9,955 YEAR," HE SAID.
COST NO
WHILE DOUBLE-DIGIT INFLATION AND RAPID RISE IN LABOUR DOUBT HAD SIGNIFICANT EFFECTS ON THE COST, MR CHEN SAID, THE POSITION MANAGEMENT, THE ALSO REFLECTED THE CHOICE OF CONTRACTORS WITH BETTER
MATERIALS AND FINISHES,
ADOPTION OF USE OF HIGH QUALITY ADVANCED AND SOPHISTICATED BUILDING TECHNIQUES.
AND THE
TREND "I EXPECT THIS
OF BETTER QUALITY IN CONTINUE, SINCE LIVING STANDARDS AND EXPECTATIONS FROM ALL MOVING UPWARDS, HE SAID.
"
BUILDINGS WILL END-USERS ARE
HOWEVER, MR CHEN CITIES OF THE WORLD,
SAID, HONG KONG, WAS FACED
BUILDINGS,
PRIMARILY
SIMILAR TO WITH PROBLEMS ARISING STEMMING FROM DISREPAIR AND
OTHER
MAJOR
FROM OLDER
UNAUTHORISED
STRUCTURES.
/HE SAID