XN000022-1986-10-30 — Page 5

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THURSDAY, OCTOBER 30, 1986

* THE MODIFICATION OF THE CONDITIONS OF EXCHANGE OF INLAND

LOT NO. 8566 (KORNHILL DEVELOPMENT) AT A PREMIUM OF

$29 000 000 SO AS TO PERMIT HOTEL DEVELOPMENTMENT ON A PORTION OF THE LOT.

* THE GRANT BY PRIVATE TREATY OF A 5.587-HECTARE SITE IN

TUEN MUN TO THE KOWLOON-CANTON RAILWAY CORPORATION AT

A PREMIUM OF $28 000 000 FOR A LIGHT RAIL TRANSIT SYSTEM DEPOT.

THE TOTAL NUMBER OF PROPERTY OWNERS THROUGHOUT THE TERRITORY ROSE BY 5.4 PER CENT FROM 803 038 IN SEPTEMBER 1985 TO 846 169 IN MARCH 1986 AND AGAIN BY 4.7 PER CENT TO 885 686 IN SEPTEMBER 1986.

MR GLEESON SAID THAT, OVERALL, THESE FIGURES REFLECTED THE CONTINUING HIGH LEVEL OF ACTIVITY IN A RELATIVELY STABLE PROPERTY MARKET GENERALLY WITH STRENGTH PARTICULARLY IN THE LOWER END OF THE RESIDENTIAL SECTOR.

THE WHOLE OF THE LAND OFFICE IN CENTRAL MOVED TO THE NEW GOVERNMENT OFFICES IN QUEENSWAY ON AUGUST 26.

COMPUTERISATION OF LAND OFFICE RECORDS WILL BEGIN IN NOVEMBER AT THE NEW OFFICE. THE COMPUTERISED SYSTEM WILL REDUCE THE WAITING TIME OF A SEARCHER FROM ABOUT 30 MINUTES TO ABOUT 10 MINUTES.

10 000 BUILDINGS IN NEED OF REMEDIAL REPAIRS

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THERE COULD BE 10 000 PRIVATE SECTOR CONCRETE BUILDINGS IN NEED OF REMEDIAL REPAIRS, THE CHAIRMAN OF THE LAND AND BUILDING ADVISORY COMMITTEE (LBAC), MR CHENG HON-KWAN, SAID TODAY (THURSDAY).

IT WAS ESTIMATED THAT THERE WERE ABOUT 50 000 POST-WAR PRIVATE BUILDINGS IN HONG KONG AND THERE WAS INCREASING EVIDENCE THAT A PROBLEM REGARDING THE DETERIORATION OF CONCRETE STRUCTURES, ESPECIALLY THOSE CONSTRUCTED IN THE EARLY POST-WAR ERA, WAS EMERGING AND MUST BE TREATED VERY SERIOUSLY.

/ATTEMPTING TO