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FRIDAY, JULY 9, 1993
KONG
HONG
IN ADDITION TO DIGITALISATION OF THE TELEPHONE NETWORK, ALSO BOASTS THE HIGHEST RATE OF MOBILE PHONE USE IN THE WORLD OUTSIDE SCANDINAVIA.
IT ALSO HAS THE GREATEST NUMBER OF PAGING SUBSCRIBERS PER HEAD OF POPULATION, THE HIGHEST RATE OF INTERNATIONAL TELECOMS
USE, AND MORE FAX MACHINES PER HEAD OF POPULATION THAN ANYWHERE ELSE APART FROM JAPAN.
TWO GOVT LOTS SOLD FOR $866 MILLION
* * *
TWO PIECES OF GOVERNMENT LOTS WERE SOLD FOR A TOTAL OF $866 MILLION AT A PUBLIC AUCTION BY THE BUILDINGS AND LANDS DEPARTMENT THIS (FRIDAY) AFTERNOON.
THE FIRST LOT IS LOCATED AT TOWN PARK ROAD SOUTH, YUEN LONG, NEW TERRITORIES. IT WAS SOLD TO MOUNT CITY LIMITED AT $600 MILLION, BIDDING OPENED AT $330 MILLION.
THE LOT, WITH AN AREA OF ABOUT 10,320 SQUARE METRES, IS INTENDED FOR PRIVATE RESIDENTIAL PURPOSES.
ACCORDING TO THE BUILDING COVENANT, THE DEVELOPER HAS ΤΟ COMPLETE A GROSS FLOOR OF NOT LESS THAN 18,576 SQUARE METRES ON OR BEFORE SEPTEMBER 30, 1997.
THE SECOND LOT IS LOCATED IN AREA 10B, TUEN MUN, NEW TERRITORIES. IT WAS BOUGHT BY FAR GAIN LIMITED AT $266 MILLION. BIDDING OPENED AT $160 MILLION.
THE LOT HAS AN AREA OF ABOUT 2.783 SQUARE METRES AND IS INTENDED FOR NON-INDUSTRIAL (EXCLUDING GODOWN) PURPOSES.
THE DEVELOPERS HAS TO COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 11,000 SQUARE METRES ON OR BEFORE SEPTEMBER 30, 1996.
THE AUCTION WAS CONDUCTED BY GOVERNMENT LAND AGENT, MR TIMOTHY MILLS, IN THE CITY HALL THEATRE.
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