XN000022-1985-01-30 — Page 2

WEDNESDAY, JANUARY 30, 1985

MORE BUILDING DEMAND EXPECTED AS PROPERTY VACANCY RATES FALL

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WITH THE SIGNING OF THE SINO-BRITISH AGREEMENT, ALL THE CURRENT PERFORMANCE INDICATORS POINT TO AN EXPANDING BUILDING DEMAND IN HONG KONG IN THE YEARS TO COME.

THE DIRECTOR OF HOUSING, MR DAVID FORD, SAID THIS TODAY WHILE OFFICIATING AT AN OPENING CEREMONY OF THE HONG KONG INTER BUILD 85+ AT THE HONG KONG EXHIBITION CENTRE, WAN CHAI.

HE SAID THE PRELIMINARY RESULTS OF THE 1985 PROPERTY REVIEW UBLISHED LATER IN THE DAY, SHOWED THAT IN ALL MAJOR SECTORS OF THE PROPERTY MARKET, THE VACANCY RATES HAD FALLEN.

+ IN 'HE TOTAL PRIVATE DOMESTIC SECTOR VACANCIES FELL BY FOUR PER CENT, AND AS FAR AS LARGER UNITS ARE CONCERNED, THE POSITION 1 EVEN BETTER, WITH A REDUCTION IN VACANCIES FROM 9.9 PER CENT OF THE TOTAL STOCK AT THE END OF 1983 TO 6.4 PER CENT AT THE END OF 1984,

• IN THE COMMERCIAL SECTOR, SUPPLY IN 1984 WAS WELL ABOVE FORECAST, BUT TAKE-UP CONTINUED AT A HIGH LEVEL.

SPEAKING OF THE HOUSING AUTHORITY'S PUBLIC HOUSING PROGRAMME, M: FORD POINTED OUT THAT THE AUTHORITY WAS NOT ONLY CONCERNED WITH NUMBERS OF FLATS BUT WAS ALSO DETERMINED TO CREATE A GOOD SNDARD OF LIVING ENVIRONMENT FOR ITS RESIDENTS. HENCE IT FOR SME COME HAD BEEN STIMULATING THE USE OF MORE MECHANISED METHODS Ce CONSTRUCTION ON ITS CONTRACTS BY SPECIAL TENDER PROCEDURES.

THIS HAD ATTRACTED A VERY POSITIVE RESPONSE FROM A NUMBER OF LOCAL AND OVERSEAS CONTRACTORS. MORE PROGRESS COULD YET BE MADE IN THIS AREA, AND FURTHER INITIATIVES WERE CURRENTLY BEING PLANNED BY THE AUTHORITY.

+

+WE REMAIN CONVINCED THAT AS GOOD AS THE INDUSTRY IS, THERE IS YET STILL ROOM FOR THE ADOPTION OF FURTHER IMPROVED TECHNIQUES. THE SAME PHILOSOPHY APPLIES TO OUR ARCHITECTS AND ENGINEERS WHO ARE CONSTANTLY STRIVING FOR MORE EFFICIENT DESIGNS, AND THE CREATION OF BETTER TOTAL LIVING ENVIRONMENTS, MR FORD NOTED.

APART FROM DECENT FLATS, PUBLIC HOUSING RESIDENTS ALSO EXPECTED AN EQUALLY GOOD STANDARD OF SUPPORTING FACILITIES AND PLEASANT SURROUNDINGS, MR FORD CONTINUED.

THE QUALITY OF THESE AMENITIES AND THE EXTERNAL SPACE, AS MUCH A: THE FLATS THEMSELVES, DISTINGUISHED THE DESIGN OF TODAY'S HOUSING ESTATES FROM THEIR OLDER COUNTERPARTS.

NEITHER WAS THE AUTHORITY FOREGETTING THE OLDER ESTATES, AND IT HAJ CMBARKED UPON A VERY POSITIVE PROGRAMME OF REDEVELOPMENT HIGHLIGHTED BY THE PROJECT TO RENEW THE CENTRAL KOWLOON ESTATES.

/ALL THIS

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