XN000022-1974-11-15 — Page 9

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FRIDAY, NOVEMBER 15, 1974.

COMMERCE AND INDUSTRY DEPARTMENT ASSESSES DEMAND

FOR INDUSTRIAL ESTATE SITES

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THE GOVERNMENT WORKING GROUP ON INDUSTRIAL ESTATES HAS ANNOUNCED THAT AN ASSESSMENT IS TO BE MADE OF THE POTENTIAL DEMAND FOR SITES IN INDUSTRIAL ESTATES, NOW BEING CONSIDERED AS A POSSIBLE FUTURE DEVELOPMENT IN HONG KONG.

THE ASSESSMENT WILL BE CONDUCTED BY THE COMMERCE AND INDUSTRY DEPARTMENT, AND COMPANIES WHICH MIGHT BE INTERESTED IN OBTAINING SITES ON EITHER A PURCHASE OR A RENTAL BASIS ARE INVITED TO CONTACT THE DEPARTMENT.

THE WORKING GROUP IS, DEVOTING INTENSIVE STUDY TO THE POSSIBILITY OF ESTABLISHING INDUSTRIAL ESTATES AS A FURTHER MEANS OF PROVIDING LAND FOR INDUSTRIES WHICH ARE UNSUITABLE FOR HIGH-RISE FACTORY BUILDINGS.

THE INDUSTRIAL LAND COMMITTEE OF THE TRADE AND INDUSTRY ADVISORY BOARD IS ASSISTING THE STUDY, AND ITS VIEWS ARE BEING MADE AVAILABLE TO THE WORKING GROUP.

PROVISION IS ALREADY BEING MADE FOR LAND AND CAPITAL INTENSIVE INDUSTRIES WHICH WOULD INTRODUCE NEW SKILLS AND TECHNOLOGY TO HONG KONG TO OBTAIN SITES ON SPECIAL TERMS.

THE INTRODUCTION OF INDUSTRIAL ESTATES IS BEING CONSIDERED AS AN ADDITIONAL STEP TO HELP ATTRACT MORE INVESTMENT IN THIS SORT OF INDUSTRY.

IT IS INTENDED THAT THE ESTATES, IF ESTABLISHED, WOULD BE BUILT AND MANAGED BY AN INDUSTRIAL ESTATES CORPORATION SET UP UNDER STATUTE FOR THE PURPOSE.

A SPOKESMAN FOR THE COMMERCE AND INDUSTRY DEPARTMENT SAID TWO LOCATIONS HAD BEEN PINPOINTED FOR POSSIBLE EARLY DEVELOPMENT, ONE AT YUEN LONG AND THE OTHER AT TAI PO. THE LIKELIHOOD WAS THAT THE TAI PO ESTATE WOULD BE DEVELOPED FIRST. IT WAS POSSIBLE THAT THERE WOULD EVENTUALLY BE A THIRD ESTATE AT JUNK BAY AS PART OF WIDER SCALE DEVELOPMENT THERE. EACH ESTATE WOULD CONTAIN OVER 100 ACRES OF INDUSTRIAL LAND, AND WOULD BE SERVED BY ESSENTIAL SERVICES SUCH AS ROADS, WATER, POWER AND TELEPHONES.

+MUCH WILL DEPEND ON THE RESPONSE FROM THE INDUSTRIAL SECTOR,+ SAID THE SPOKESMAN. +THE DETAILED STUDIES BEING MADE BY THE GOVERNMENT HAVE REACHED THE STAGE WHERE IT IS NECESSARY TO ASSESS THE LIKELY DEMAND FOR SITES. AN IMPORTANT POINT IS THAT THE ESTATES ARE INTENDED FOR LOCAL INDUSTRIALISTS AS WELL AS FOR INDUSTRIES TO BE ATTRACTED FROM OVERSEAS.+

A ROUGH ORDER OF COSTS HAS BEEN PREPARED FOR THE TAI PO ESTATE WHICH INDICATES A POSSIBLE SALE PRICE FOR FORMED LAND OF ABOUT $45 PER SQUARE FOOT OR A GROUND RENTAL CHARGE OF ABOUT $6.5 PER SQUARE FOOT PER ANNUM.

FURTHER INFORMATION CAN BE OBTAINED FROM THE INDUSTRY DIVISION OF THE COMMERCE AND INDUSTRY DEPARTMENT BY TELEPHONI NG MR. ROY PORTER (5-236509) MR. ALEX PURVES (5-248280) OR MR. PETER LO (5-241578).

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