XN000022-1986-10-30 — Page 12

THURSDAY, OCTOBER 30, 1986

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LAND PREMIUM AT INDUSTRIAL ESTATES REVISED

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THE HONG KONG INDUSTRIAL ESTATES CORPORATION (HKIEC) TODAY (THURSDAY) ANNOUNCED THE INCREASE OF LAND PREMIUM AT BOTH TAI PO AND YUEN LONG INDUSTRIAL ESTATES WITH IMMEDIATE EFFECT.

LAND PREMIUM AT THE TAI PO ESTATE WILL BE INCREASED FROM $950 TO $1 100 PER SQUARE METRE AND FROM $800 TO $900 AT THE YUEN LONG ESTATE.

MEMBERS OF THE HKIEC BOARD ALSO DECIDED IN PRINCIPLE TO BUILD TWO MORE STANDARD FACTORY UNITS ON THE YUEN LONG ESTATE.

THE INSTALMENT REPAYMENT TERMS FOR LAND PREMIUM WOULD CONTINUE TO BE AVAILABLE FOR SITES ON THE YUEN LONG ESTATE.

TERMS WOULD INCLUDE 25 PER CENT DOWN-PAYMENT, AND THE

INTEREST BALANCE TO BE PAYABLE BY 40 QUARTERLY INSTALMENTS. RATE WOULD BE AT 1.5 PER CENT OVER THE BEST LENDING RATE IN HONG KONG.

HOWEVER THESE TERMS WOULD NO LONGER BE AVAILABLE FOR SITES ON THE TAI PO ESTATE.

SHAM SHUI PO FESTIVAL STARTS NEXT WEEK

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A FIVE-WEEK DISTRICT FESTIVAL WILL BE HELD IN SHAM SHUI PO FROM NOVEMBER 8 FEATURING MORE THAN 50 CULTURAL, RECREATIONAL, SPORTS AND COMMUNITY ACTIVITIES FOR RESIDENTS.

THE THEME OF THE FESTIVAL IS TO PROMOTE CIVIC EDUCATION.

IT WAS ANNOUNCED AT A PRESS CONFERENCE TODAY (THURSDAY) TO LAUNCH THE 1986 SHAM SHUI PO DISTRICT FESTIVAL THAT THE SECRETARY FOR DISTRICT ADMINISTRATION, MR DONALD LIAO, WOULD OFFICIATE AT THE FESTIVAL OPENING.

THE CEREMONY AND VARIETY SHOW WILL BE HELD AT 11 AM THAT DAY AT MONG KOK STADIUM, BOUNDARY STREET, KOWLOON.

ALSO OFFICIATING WITH MR LIAO, WILL BE MEMBER OF THE EXECUTIVE AND LEGISLATIVE COUNCIL, MR PETER C. WONG, AND LEGISLATIVE COUNCILLOR, MR HILTON CHEONG-LEEN.

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