(b)
(c)
(d)
- 53 -
The HKIEC's figures are collated on the basis of the financial, rather than the calendar year. During the year ending 31 March 1994, 1.34 hectares was granted at Tai Po, 4.75 hectares at Yuen Long, and 3.37 hectares at Tseung Kwan O. Since 1 April 1995, no land has been leased at Tai Po or Yuen Long, but 1.1 hectares has been leased at Tseung Kwan O, and a further 4.08 hectares has been offered to applicants. The land premiums per square metre are as follows: $2,500 at Tai Po ($2,200 up to 31 March 1994), $2,000 at Yuen Long ($1,800), and $2,400 and $3,000 respectively for inland and waterfront sites at Tseung Kwan O ($2,100 and $2,650).
As only two groups of small and medium-sized enterprises have expressed interest in leasing land from the HKIEC, it is not possible to say whether this reflects a more general demand for industrial land from such enterprises. It is likely that only enterprises which cannot operate in conventional industrial buildings would seek land, because of the additional financial commitment which development entails.
The HKIEC's existing policy already allows it to consider joint applications from multiple users, including small and medium-sized enterprises.
A group of pharmaceutical companies has submitted a joint application, and detailed discussions are taking place. It is not possible to say when these will be concluded. Preliminary discussions have also taken place with a group of electroplating companies, although no application has been received to date.
All applicants must show that they meet the HKIEC's basic criteria, which are that applicants' activities must be of a nature which cannot effectively be carried out in an ordinary multi-storey building, they must not be classified as an offensive trade, and the primary activity must not be storage or warehousing. Practical considerations, such as the financial ability of joint applicants to complete the project, and how they would replace occupants of a multi- user building who vacate their premises, will also be taken into account.
End/Wednesday, June 14, 1995