XN000022-1989-03-28 — Page 7

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TUESDAY, MARCH 28, 1989

SINO-BRITISH LAND COMMISSION MEETING

THE 17TH MEETING OF THE SINO-BRITISH LAND COMMISSION WAS HELD TODAY (TUESDAY).

THE TWO SIDES AGREED THAT THE LAND DISPOSAL PROGRAMME 1989-90 FINANCIAL YEAR SHOULD AMOUNT TO 78.26 HECTARES.

FOR THE

THE PROGRAMME COMPRISES 28.04 HECTARES FOR COMMERCIAL, RESIDENTIAL AND INDUSTRIAL DEVELOPMENT; 19.19 HECTARES FOR HOME OWNERSHIP, PRIVATE SECTOR PARTICIPATION SCHEMES AND VILLAGE HOUSING; 22.11 HECTARES FOR PUBLIC UTILITIES, EDUCATIONAL, WELFARE, RELIGIOUS, RECREATIONAL AND OTHER USES; AND 8.92 HECTARES AS SPECIAL REQUIREMENTS.

THE TWO SIDES ALSO AGREED TO SET ASIDE FIVE HECTARES OF LAND IN A SUPPLEMENTARY LAND DISPOSAL PROGRAMME. THE LAND COMMISSION WILL DECIDE DURING THE YEAR ON THE AMOUNT OF LAND TO BE RELEASED FROM THE SUPPLEMENTARY PROGRAMME IN THE LIGHT OF DEMAND.

THE LAND COMMISSION AGREED TO ADD A FURTHER 1.6 HECTARES FROM THE 1988-89 SUPPLEMENTARY LAND DISPOSAL PROGRAMME TO THE 1988-89 LAND DISPOSAL PROGRAMME.

FOUR GOVT LOTS SOLD FOR $1,246 MILLION

* * *

THE SALE OF FOUR LAND LOTS BY PUBLIC AUCTION HELD TODAY (TUESDAY) FETCHED A TOTAL OF $1,246 MILLION.

THIS WAS THE LAST LAND AUCTION HELD BY THE BUILDINGS AND LANDS DEPARTMENT IN THE CURRENT FINANCIAL YEAR.

THE LOTS INCLUDE TWO FOR PRIVATE RESIDENTIAL NEW TERRITORIES.

PURPOSES IN THE

ONE IS LOCATED IN AREA 44B IN TAI WO TSUEN, KWAI CHUNG. IT COVERS AN AREA OF ABOUT 11,100 SQUARE METRES.

BIDDING STARTED AT $200 MILLION AND THE SITE WAS BOUGHT BY CARBONLAND ESTATES LIMITED FOR $285 MILLION.

ACCORDING TO THE BUILDING COVENANT, THE BUYER HAS TO DEVELOP A GROSS FLOOR AREA OF NOT LESS THAN 13,980 SQUARE METRES ON THE SITE BEFORE MARCH 31, 1993.

THE OTHER LOT,

COVERING AN AREA OF ABOUT 22,150 SQUARE

METRES,

IS LOCATED IN AREA 22 IN TAI PO.

/IT WAS