XN000022-1985-04-21 — Page 2

SUNDAY, APRIL 21, 1985

LAND SUPPLY +MORE THAN ADEQUATE +

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THE EXISTING AND PLANNED LEVELS OF LAND SUPPLY ARE MORE THAN ADEQUATE TO MEET HONG KONG'S SOCIAL AND ECONOMIC NEEDS OVER THE NEXT FIVE YEARS.

THIS PROJECTION, CONTAINED IN THE 1984-85 ANNUAL REPORT OF THE SPECIAL COMMITTEE ON LAND SUPPLY PUBLISHED TODAY, IS IDENTICAL TO THE ONE MADE BY THE COMMITTEE IN ITS PREVIOUS REPORT.

IN ITS LATEST REPORT, THE COMMITTEE, UNDER THE CHAIRMANSHIP OF MR BILL BROWN, HAS RECOMMENDED ANNUAL LAND SUPPLY TARGETS FOR DIFFERENT CATEGORIES OF USE IN RELATION TO THEIR EXISTING AND PLANNED AVAILABILITY.

THE COMMITTEE HAS CONSIDERED THE PROVISION OF LAND FOR THE HOUSING AND MANUFACTURING INDUSTRIES OVER THE NEXT FIVE YEARS, AND HAS STRESSED THE IMPORTANCE OF TAKING A LONG TERM VIEW OF THE MARKET POTENTIAL WHICH OUGHT NOT TO BE INFLUENCED BY SHORT TERM MARKET CONDITIONS, SAID MR BROWN.

REQUIREMENTS FOR NEW LAND HAVE BEEN TAKEN INTO ACCOUNT AND THESE HAVE BEEN COMPARED WITH THE CURRENT LAND SUPPLY FORECAST TO ASSESS THE EXTENT TO WHICH POLICY OBJECTIVES COULD BE MET, HE ADDED.

ACCORDING TO THE REPORT, FUTURE LAND PRODUCTION SHOULD BE SUFFICIENT TO SUSTAIN PRODUCTION OF PUBLIC RENTAL HOUSING AT 26 200 FLATS A YEAR, WITH A FURTHER 3 800 FLATS TO BE PRODUCED THROUGH REDEVELOPMENT WHICH DOES NOT REQUIRE NEW SITES.

CURRENT FORECASTS SHOW A GROWING SHORTFALL FROM 1989-90 IN LAND REQUIRED TO MEET FLAT PRODUCTION TARGETS FROM 1992-93, DESPITE THE AVAILABILITY OF A CONTINUOUS SUPPLY OF SUPPLEMENTARY SITES, WHICH THE COMMITTEE FEELS +CANNOT BE RELIED UPON TO MEET THIS SHORTFALL+.

HOWEVER, IMPLEMENTATION OF GOVERNMENT'S DECISIONS BASED ON THE INITIAL RESULTS OF THE TERRITORIAL DEVELOPMENT STRATEGY STUDIES IS EXPECTED TO PRODUCE NEW RECLAMATIONS AROUND THE WESTERN HARBOUR AREA WHICH SHOULD BEGIN TO CONTRIBUTE TOWARDS THIS END BY 1992-93.

THE REPORT ALSO SAYS THAT LAND SUPPLY SHOULD BE SUFFICIENT TO PERMIT THE ANNUAL PRODUCTION OF 10 000 FLATS FOR BOTH THE HOME OWNERSHIP SCHEME AND PRIVATE SECTOR PARTICIPATION SCHEME.

/ MORE-T÷AN-A220-,UATE