XN000022-1978-02-28 — Page 3

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TUESDAY, FEBRUARY 28, 1978

NEW TERRITORIES POPULATION BOOM OVER NEXT THREE YEARS

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THE SECRETARY FOR THE NEW TERRITORIES, MR. DAVID AKERS-JONES, SAID TODAY HE EXPECTED THAT BETWEEN 120,000 AND 150,000 PEOPLE WILL BE ADDED EACH YEAR TO THE POPULATION OF THE NEW TERRITORIES

OVER THE NEXT THREE YEARS.

+THE PROOF OF THIS IS THERE FOR ALL TO SEE, FOR NO SOONER IS THE SEA BEING RECLAIMED THAN THE PILE DRIVERS OF THE HOUSING ESTATES ARE HARD ON THE HEELS OF THE BULLDOZERS OF RECLAMATION,+ HE TOLD A LUNCHEON MEETING OF THE FEDERATION OF HONG KONG INDUSTRIES.

ES.

+AND, IF YOU ARE SURPRISED BY THE DEVELOPMENT THAT IS TAKING PLACE NOW, YOU WILL BE STAGGERED BY WHAT YOU SEE IN 1980-81, IN THE TRANSFORMATION OF SHA TIN AND TUEN MUN, AND EVEN IN TAI PO, WHERE AN ESTATE FOR 33,000 PEOPLE IS ALREADY BEING DEVELOPED.+

MR. AKERS-JONES SAID THAT APART FROM THE INDUSTRIAL ESTATES AT YUEN LONG AND TAI PO, LARGE AREAS OF INDUSTRIAL LAND WOULD BECOME AVAILABLE OVER THE NEXT TWO YEARS IN THE NEW TERRITORIES SO THAT THE INCOMING RESIDENTS COULD FIND WORK LOCALLY.

ABOUT HALF A MILLION SQUARE FEET OF INDUSTRIAL LAND WOULD COME ON THE MARKET THIS YEAR AND ANOTHER MILLION SQUARE FEET THE FOLLOWING YEAR.

+ IN 1980/81 AN AREA ON THE EAST COAST OF SHA TIN COVE WILL HAVE BEEN RECLAIMED FROM THE SEA AND WILL BE COMING ON STREAM FOR DEVELOPMENT,+ HE SAID.

HE ALSO POINTED OUT THAT ABOUT 5.5 MILLION SQUARE FEET OF FLATTED FACTORY SPACE WOULD BECOME AVAILABLE AT KWAI CHUNG, TUEN MUN AND SHA TIN IN 1978/79.

MOST OF THIS WOULD BE ON LAND DEVELOPED UNDER THE LAND EXCHANGE SYSTEM WHICH HAS BEEN OPERATING IN THE NEW TERRITORIES FOR THE LAST 20 YEARS, HE SAID,

HE SAID THAT THE EXCHANGE SYSTEM, ALTHOUGH A MYSTERY TO FOREIGN INVESTORS, HAD WORKED WELL, ALTHOUGH IT WAS NOW IN NEED OF AN OVER- HAUL.

IN ADDITION TO THE DEVELOPMENTS THAT HAD ALREADY TAKEN PLACE IN THE NEW TERRITORIES, HE CITED THE DEVELOPMENT OF INDUSTRIAL KWAI CHUNG, SHA TIN AND TUEN MUN AS OUTSTANDING EXAMPLES OF THE SYSTEM WORKING SUCCESSFULLY.

MR. AKERS-JONES SAID THAT ABOUT 40 MILLION SQUARE FEET OF PRIVATE LAND HAD BEEN ACQUIRED FOR DEVELOPMENT SINCE THE SYSTEM WAS INTRODUCED.

HE EXPLAINED THAT