XN000022-1978-09-13 — Page 3

WEDNESDAY, SEPTEMBER 13, 1978

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IN ADDITION, SAI KUNG DISTRICT HAS A HOLIDAY CAMP AND MR. BOSHER DESCRIBED IT AS +CHEAP, GOOD STANDARD ACCOMMODATION+ WHICH ORDINARY WORKING PEOPLE EARNING A DECENT WAGE CAN AFFORD AND WILL FIND ATTRACTIVE.

THE SAI KUNG CAMP NEAR SAI KUNG TOWN, RUN BY THE RECREATION AND SPORT SERVICE HAS BEEN OPEN FOR TWO YEARS. THE SERVICE WILL SOON OPEN A NEW ONE AT TSAK YUE WU INSIDE THE COUNTRY PARK.

THE NEW CAMP WILL HAVE A SWIMMING POOL AND SUPERVISED ACTIVITIES SUCH AS ROLLER SKATING, TENNIS AND ARCHERY AND ITS PRICE IS ONLY $5 PER HEAD A NIGHT.

THE PO LEUNG KUK HAS JUST BEEN GIVEN A VERY VALUABLE PIECE OF LAND AT PAK TAM CHUNG TO ESTABLISH A SIMILAR CAMP.

A SMALL HOTEL HAS BEEN BUILT AT SHA HA AND IS DUE TO OPEN THIS YEAR.

AS FOR LIGHT INDUSTRY, HE SAID, IT HAS LONG BEEN FELT THAT THE RURAL AREAS SHOULD HAVE LAND RESERVED FOR LIGHT INDUSTRY TO BOOST THE LOCAL ECONOMIES.

+TWO SUCH AREAS ARE PLANNED IN SAI KUNG, ONE AT HO CHUNG AND ANOTHER AT TUI MIN HOI, NEAR SAI KUNG TOWN.

+THE FIRST THREE SITES AT TUI MIN HOI WILL BE SOLD BY PUBLIC AUCTION AND LETTER B TENDER IN FEBRUARY AND MARCH NEXT YEAR, AND WILL PROVIDE LOW RISE FLATTED SPACE SUITABLE FOR LIGHT ENGINEERING, PLASTICS AND TEXTILES, HE SAID.

MR. BOSHER SAID SAI KUNG DISTRICT HAD BEEN EXPERIENCING ITS OWN MINI-PROPERTY MARKET BOOM IN RECENT MONTHS. +WE HELD AN AUCTION LAST MONTH WHICH SURPRISED US ALL BY THE INTENSITY OF THE BIDDING, UP FOR SALE WAS A 20,000 SQUARE FEET SITE AT SILVERSTRAND FOR LOW DENSITY RESIDENTIAL DEVELOPMENT TO TWO STOREYS ONLY.

+OUR UPSET PRICE WAS MORE THAN DOUBLED AND THE SUCCESSFUL BIDDER TOOK THE SITE FOR $3.5 MILLION -- THIS WORKS OUT AT $177 SQUARE FOOT OR $444 SQUARE FOOT ACCOMMODATION VALUE DOUBLE OUR VALUATION A YEAR AGO.

→THERE IS STILL ABOUT 100 ACRES OF LAND WITHIN THE MINOR RESIDENTIAL LAYOUTS WHICH COULD BE DISPOSED OF.

+THERE IS AN EVER-GROWING DEMAND FOR HOUSING WHICH IS NOT IN MULTI-STOREY BUILDINGS, FROM PEOPLE WHO WISH TO LIVE OUT OF THE CITY AND WHO ARE PREPARED TO MAKE THE DAILY JOURNEY TO THE CITY TO WORK, MR. BOSHER ADDED.

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