MONDAY, OCTOBER 25, 1993
6
THE PRESENT REVISION HAS DELETED THE FIXED PERCENTAGE OF 75% ON ALL ANCILLARY OFFICES UNDER THE LEASE CONDITIONS.
THE PERCENTAGE WAS IMPOSED FOR PREMIUM CALCULATION IN CONNECTION WITH LEASE MODIFICATION UPON APPROVAL OF AN APPLICATION FOR INDUSTRIAL-OFFICE BUILDINGS BY THE BOARD. THE USE OF OVER 75% OF THE SPACE FOR ANCILLARY OFFICES WOULD BE SUBJECT TO FURTHER MODIFICATION AT A PREMIUM.
"AS THE 75% BENCHMARK MAY CAUSE CONFUSION TO DEVELOPERS AND POTENTIAL OCCUPIERS OF THESE BUILDINGS, THE BOARD DECIDED TO DELETE IT FROM THE GUIDELINES, THE SPOKESMAN EXPLAINED.
THE LANDS DEPARTMENT WILL, FROM NOW ON, RELY ON MARKET EVIDENCE IN ASSESSING THE PREMIUM BY TAKING INTO ACCOUNT THE OPTIMUM INDUSTRIAL-OFFICE MIX IN ANY GIVEN LOCATION.
IN OTHER WORDS, THERE WILL VIRTUALLY BE NO RESTRICTION ON THE AMOUNT OF SPACE USED FOR ANCILLARY OFFICES IN INDUSTRIAL-OFFICE BUILDINGS WITHIN THE SAME INDUSTRIAL AREA.
THE GUIDELINES WERE PROMULGATED IN EARLY 1990 AND WERE LAST REVISED BY THE BOARD IN JULY LAST YEAR.
COPIES OF THE REVISED VERSION ARE AVAILABLE AT PLANNING DEPARTMENT, 16TH FLOOR, MURRAY BUILDING, GARDEN ROAD, HONG KONG.
RESIDENTIAL MORTGAGE SURVEY RESULTS FOR SEPTEMBER
THE GROWTH RATE OF RESIDENTIAL MORTGAGE LOANS HAS DECLINED SIGNIFICANTLY IN SEPTEMBER, ACCORDING ΤΟ THE RESULTS OF THE LATEST MONTHLY SURVEY CONDUCTED BY THE HONG KONG MONETARY AUTHORITY (HKMA).
THE LATEST FIGURES SHOWED THAT THE TOTAL AMOUNT OF OUTSTANDING LENDING BY THE 28 AUTHORISED INSTITUTIONS IN THE SURVEY ROSE BY 0.8 PER CENT IN SEPTEMBER (2.5 PER CENT IN AUGUST) FROM $198.4 BILLION ΤΟ $200.1 BILLION. THE GROWTH RATE IS BELOW THE MONTHLY AVERAGE OF 1.3 PER CENT OVER THE PAST 12 MONTHS.
"THE SLOWER GROWTH RATE CONFIRMS OUR EXPECTATION OF LAST MONTH AND DEMONSTRATES THE IMPACT OF THE RECENT TIGHTENING MEASURES ADOPTED BY BANKS, THE DEPUTY CHIEF EXECUTIVE (BANKING) OF THE HKMA, MR DAVID CARSE, SAID TODAY (MONDAY).
THE ANNUALISED RATE OF GROWTH IN LENDING OVER THE LAST THREE MONTHS HAS FALLEN TO 26.1 PER CENT COMPARED WITH 34 PER CENT IN THE THREE-MONTH PERIOD TO AUGUST THIS YEAR.
OF CARSE
"IT IS STILL SIGNIFICANTLY ABOVE THE ANNUALISED GROWTH RATE 15.5 PER CENT RECORDED IN THE SAME PERIOD OF LAST YEAR, MR NOTED.
/NEW LOANS