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TUESDAY, FEBRUARY 27, 1979
HE SAID THE GOVERNMENT WAS EXAMINING THE QUESTIONS OF SMALL FACTORY UNITS AND THOSE WITH SPECIAL MACHINERY REQUIREMENTS, BUT ADDED THAT THERE WAS +ABSOLUTELY NO REASON WHY THE PURCHASERS OF INDUSTRIAL LAND SHOULD NOT PROVIDE FOR THE MARKET WHICH CLEARLY EXISTS FOR THIS TYPE OF FACTORY ACCOMMODATION. +
AS A MEMBER OF THE INDUSTRIAL ESTATES CORPORATION, HE SAID HE WAS ASTONISHED BY THE NUMBER OF APPLICATIONS FROM INDUSTRIALISTS WHOSE ONLY CLAIM FOR SPECIAL STATUS WAS A REQUIREMENT FOR HEAVY FLOOR LOADINGS AND HIGH CEILING FOR HIGH MACHINERY.
HE SAID THE GOVERNMENT ITSELF WAS MOVING TOWARDS MEETING THIS NEED AND NOTED THAT AN ENCOURAGING PRICE+ HAD BEEN PAID AT A RECENT AUCTION OF LAND IN SHA TIN THAT CARRIED LEASE CONDITIONS STIPULATING THE PROVISION OF HEAVY FLOORS AND HIGH CEILINGS.
ON LAND PRICES, PARTICULARLY FOR INDUSTRIAL LAND, MR. AKERS- JONES SAID THAT DESPITE THE VAST EXPENDITURE ON BUILDING NEW TOWNS AND NEW INDUSTRIAL AREAS, DEMAND STILL OUTSTRIPPED SUPPLY AND THERE WAS NO SHORTAGE OF INDUSTRIALISTS AND DEVELOPERS TO BID FOR LAND.
+COMPETITION IS KEEN AND PRICES ARE HIGH, BUT THE PURCHASERS OBVIOUSLY BELIEVE THAT PROFITS WILL BE SUFFICIENT TO PAY FOR THE LAND AND TO YIELD A SUFFICIENT RETURN FROM THE SALE OF PRODUCTS, HE NOTED.
BUT HE ADDED THAT THE +SO-CALLED+ HIGH PRICES HAD TO BE SEEN AGAINST THE GENERALLY LOW LEVEL OF TAXATION.
+WE CAN'T HAVE IT ALL WAYS. BUT, SO THAT WE SHOULD NOT SHUT OUT OR DIVERT TO OTHER CENTRES IN THE FAR EAST THOSE INDUSTRIES WHICH MAY INTRODUCE NEW TECHNOLOGY, NEW PRODUCTS AND NEW IDEAS, WE HAVE CREATED THE INDUSTRIAL ESTATES.+
MR. AKERS-JONES SAID THE INDUSTRIAL ESTATE IN TAI PO IS ALREADY PROVING ITS WORTH.
+THE FIRST FACTORY WILL BE IN OPERATION IN ABOUT 12 MONTHS AND THE 14 COMPANIES GRANTED LEASES SO FAR WILL BE PUTTING $300 MILLION INTO THEIR OPERATIONS AND WILL HAVE AN ESTIMATED ANNUAL PRODUCTION VALUE OF OVER $500 MILLION.
+THESE INVESTORS COME FROM EUROPE, SAUDI ARABIA, JAPAN, THE UNITED STATES, AUSTRALIA AND SINGAPORE, HE ADDED.
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