XN000022-1980-02-27 — Page 19

WEDNESDAY, FEBRUARY 27, 1980

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MORE LAND TO BE PUT ON SALE

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MORE LAND WILL BE PUT ON SALE IN THE COMING FINANCIAL YEAR FOR INDUSTRIAL AND RESIDENTIAL DEVELOPMENT WHILE LAND PRODUCTION WILL BE MAINTAINED AT A HIGH LEVEL.

THE FINANCIAL SECRETARY, THE HON SIR PHILIP HADDON-CAVE, SAID TODAY (WEDNESDAY) THE SALE OF 197 ACRES OF LAND IN NEXT" FINANCIAL YEAR WOULD BRING IN $5 168 MILLION, COMPARED WITH THE REVISED ESTIMATE FOR 1979-80 OF $2 223 MILLION FROM THE SALE OF 95 ACRES.

IN THE LAST FOUR YEARS, LAND SALES HAVE BEEN 38 ACRES, 34 ACRES, 57 ACRES AND 95 ACRES RESPECTIVELY. THE FACT THAT THE LAND SALES PROGRAMME IN 1980-81 ENVISAGES THAT SALE OF NO LESS THAN 197 ACRES IS A REFLECTION OF THE BUILD-UP OF EXPENDITURE ON DEVELOPMENT WORKS IN THE POST-RECESSION PERIOD, SIR PHILIP SAID.

IN THE COMING FINANCIAL YEAR, 26 INDUSTRIAL LOTS AND 77 NON- INDUSTRIAL LOTS WILL BE OFFERED FOR SALE. MANY OF THESE LOTS WILL BE LARGE INDUSTRIAL LOTS IN KOWLOON BAY RECLAMATION, APLICHAU, CHAI WAN RECLAMATION, SHA TIN NEW TOWN AND TUEN MUN NEW TOWN. NON-INDUSTRIAL LOTS FOR RESIDENTIAL DEVELOPMENT WILL INCLUDE LARGE LOTS IN RED HILL, TAI TAM RESERVOIR ROAD, WONG CHUK HANG AND SHA TIN NEW TOWN.

NON-INDUSTRIAL LAND IN SHA TIN NEW TOWN, TUEN MUN NEW TOWN AND TSUEN WAN NEW TOWN WILL ALSO BE PUT ON SALE FOR COMMERCIAL AND RESIDENTIAL DEVELOPMENT.

+IN ADDITION, TWO EXTREMELY VALUABLE SITES IN THE CENTRAL DISTRICTS OF HONG KONG AND KOWLOON WILL BE READY FOR SALE FOR COMMERCIAL DEVELOPMENT AND THEY AFFECT THE REVENUE ESTIMATE,+ THE FINANCIAL SECRETARY SAID,

HE SAID THE OUTLOOK FOR LAND SALES IN THE NEXT FEW YEARS SHOULD BE, 219 ACRES IN 1981-82- 151 AGRES IN 1982-83- 193 ACRES IN 1983-84,

+MORE LAND IS THOUGHT TO BE THE SOLUTION TO PRETTY WELL ALL OUR PROBLEMS FROM HOUSING TO RENTS TO INFLATION,+ SAID SIR PHILIP. *NONE OF THESE PROBLEMS IS QUITE AS SIMPLE AS THAT.+

HE GAVE AN ASSURANCE THAT OVER THE THREE YEARS OF THE NEW FORECAST PERIOD, LAND PRODUCTION WOULD BE MAINTAINED AT HIGH LEVELS. LAND PRODUCTION IN 1980-81 IS EXPECTED TO BE 853 ACRES, COMPARED WITH 1 236 ACRES IN 1979-80 AND 238 ACRES IN 1976-77.

+IT IS DIFFICULT TO BE DEFINITIVE ABOUT THE ACTUAL GROSS AREAS LIKELY TO COME ON STREAM, BUT THEY SHOULD BE IN THE ORDER OF 1 100 ACRES PER ANNUM, + THE FINANCIAL SECRETARY SAID.