XN000022-1989-10-25 — Page 26

WEDNESDAY, OCTOBER 25, 1989

24

CONCLUDING HIS SPEECH, MR CHAN SAID: "HONG KONG WORKS AND WILL CONTINUE TO WORK IN THE FUTURE.

"IT IS WELL POISED TO CONTINUE PLAYING AN ACTIVE ROLE IN BOTH THE REGIONAL AND THE GLOBAL ECONOMY, AND TO DO SO FOR MANY YEARS ΤΟ COME.'

GOVT LAND SOLD FOR $343 MILLION

THREE LOTS OF GOVERNMENT LAND WERE SOLD FOR A TOTAL OF #343 MILLION BY THE BUILDINGS AND LANDS DEPARTMENT TODAY (WEDNESDAY).

TOPPING THE LIST WAS A LOT AT LAM HING STREET. KOWLOON BAY, WHICH WAS BOUGHT BY HEAVY FULL LTD FOR 3200 MILLION. BIDDING OPENED AT $160 MILLION.

THE LOT, COVERING AN AREA OF ABOUT 3,803 SQUARE METRES, IS FOR GODOWN PURPOSES ONLY. THE DEVELOPER IS REQUIRED TO COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 26,000 SQUARE METRES BEFORE DECEMBER 31, 1993.

THE SECOND LOT IS LOCATED IN AREA PRIVATE RESIDENTIAL PURPOSES.

29A, FANLING. AND IS

FOR

BIDDING OPENED AT $70

MILLION AND THE LOT WAS BOUGHT GREATER CHINA LAND COMPANY LTD FOR $100 MILLION.

BY

IT COVERS AN AREA OF ABOUT 5,915 SQUARE METRES AND THE DEVELOPER IS REQUIRED TO COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 11,712 SQUARE METRES BEFORE DECEMBER 31, 1992.

B,

THE THIRD LOT IS LOCATED IN AREA INDUSTRIAL/GODOWN PURPOSES AND COVERS AN AREA OF

ΤΑΙ PO. IT IS FOR ABOUT 1,618 SQUARE

METRES.

BIDDING OPENED AT $26 MILLION AND THE LOT WAS BOUGHT BY PONDAFUN LTD FOR $43 MILLION.

ACCORDING TO THE BUILDING COVENANT, THE DEVELOPER IS REQUIRED TO COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 9,223 SQUARE METRES BEFORE DECEMBER 31, 1992.

THE AUCTION, HELD AT THE CITY HALL THEATRE, WAS CONDUCTED BY THE GOVERNMENT LAND AGENT, MR NIGEL BURLEY.

/25