12 -
"The South East Kowloon Development will look into the development potential of the existing airport and the adjoining areas after the airport is relocated to Chek Lap Kok.
"The Kowloon Point Development which covers an area of about 60 hectares will look at solutions for provision of expansion areas to Tsim Sha Tsui taking into account planning, traffic and transport requirements," Mr Lee explained.
The overall works expenditure of the TDD last year, including new towns and urban developments, amounted to about $5.5 billion.
End/Tuesday, March 14, 1995
Three lots sold for $2,987 million
Three lots of Government land were sold for a total of $2,987 million at a public land auction held by the Lands Department this (Tuesday) afternoon.
Two lots - one of 12,590 square metres at the junction of Sheung Yee Road and Wang Chiu Road, Kowloon Bay, for industrial or godown purposes, and the other of 4,104 square metres in Cha Kwo Ling Road, Kwun Tong, for non-industrial purpose - were withdrawn because no biddings were made for the opening prices of $1,500 million and $480 million respectively.
Of the lots sold, the first one, located in Fung Shing Street, Ngau Chi Wan, was sold to Goodterm Limited at $1,610 million, with bidding opening at $1,300 million. It has an area of 13,999 square metres for private residential use. The developer has to complete a gross floor area of not less than 39,240 square metres on or before March 31, 1999.
The second lot in Area 90B, Ma On Shan, was bought by Great Cheer Development Limited at $1,240 million, with bidding opening at $980 million.
With an area of 10,900 square metres, this lot is also for private residential use.