XN000022-1989-11-28 — Page 11

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TUESDAY, NOVEMBER 28, 1989

THE LOT IS FOR INDUSTRIAL

AND/OR GODOWN PURPOSES EXCLUDING OFFENSIVE TRADE. THE DEVELOPER IS REQUIRED TO COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 12,711 SQUARE METRES BEFORE DECEMBER 31, 1993.

THE THIRD LOT IS LOCATER IN AREA

4B OF SHEUNG SHUI AND IS DESIGNATED FOR INDUSTRIAL AND/OR GODOWN PURPOSES EXCLUDING OFFENSIVE TRADE.

DIDDING OPENED AT $30 MILLION AND THE LOT WAS BOUGHT BY KA KA REALTY LTD FOR $37 MILLION.

IT COVERS AN AREA OF ABOUT 3,785 SQUARE METRES AND THE DEVELOPER 18 REQUIRED TO COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 11,355 SQUARE METRES BEFORE DECEMBER 31, 1992 WITH NOT LESS THAN 1,890 SQUARE METRES OF MOTOR VEHICLE WORKSHOPS ON THE FIRST FLOOR.

THE AUCTION, HELD AT THE CITY HALL THEATRE, WAS CONDUCTED BY THE ACTING GOVERNMENT LAND AGENT, MR ROGER HARDING.

MR HARDING SAID HE WAS PLEASED AND SATISFIED WITH OF ALL THREE LOTS.

THE PRICES

TAC BRIEFED ON MTR CONGESTION

MEMBERS OF THE TRANSPORT ADVISORY COMMITTEE {TAC) WERE TODAY BRIEFED ON THE VARIOUS MEASURES TAKEN BY BOTH THE MASS TRANSIT RAILWAY CORPORATION (MTRC) AND THE GOVERNMENT TO ALLEVIATE PEAK HOUR CONGESTION.

THE TAC WAS INFORMED THAT THE MTRC HAD DECIDED TO RETAIN THE MORNING PEAK HOUR CONGESTION FARE TO ALLEVIATE THE PEAK CONGESTION PROBLEM ALONG THE NATHAN ROAD CORRIDOR. THIS WAS TO REDUCE THE RISK OF OVERCROWDING ON THE PLATFORMS WHICH COULD CAUSE SEVERE DIFFICULTIES IN EVACUATING PASSENGERS IN CASE OF EMERGENCIES.

FOLLOWING THE OPENING OF THE RAIL SECTION OF THE EASTERN HARBOUR CROSSING IN AUGUST THIS YEAR, THE MTRC CONDUCTED A PASSENGER SURVEY IN OCTOBER WHICH SHOWED THAT THE NATHAN ROAD CORRIDOR MORNING PEAK HOUR DEMAND HAD DROPPED FROM 86,000 TO AROUND 76,000 PASSENGERS.

PEAK

HOWEVER. THE SAME SURVEY FOUND THAT ABOUT 4,000 PASSENGERS CURRENTLY USING THE MTR NATHAN ROAD CORRIDOR OUTSIDE THE MORNING WOULD REVERT TO TRAVELLING IN THE MORNING PEAK IF THE CONGESTION WAS REMOVED.

FARE

REACH CAPACITY

THIS MEANT THAT PATRONAGE IN THE MORNING PEAK COULD 80,000 PER HOUR, WHICH WAS MUCH HIGHER THAN THE MTR DESIGNED OF 75,000 PASSENGERS PER HOUR.

/THE TAC