THURSDAY, FEBRUARY 8, 1990
"THERE ARE AT PRESENT OVER 18,000 U.S. CITIZENS LIVING IN HONG KONG AND ABOUT 1,000 U.S. COMPANIES ARE OPERATING THERE. THEY ARE IN ALL FIELDS -- BANKING, THE LAW, TRADING, MANUFACTURING, ACCOUNTANCY, INSURANCE, SHIPPING, POWER GENERATION, PROPERTY -- AND U.S. INTERESTS
ARE INCREASING.
||
MR JOHNSON DESPITE
EXPLAINEI TRAUMATIC
TURNING TO THE FUTURE OF THE TERRITORY, THAT BUSINESS CONFIDENCE REMAINED REMARKABLY HIGH, EVENTS IN CHINA LAST SUMMER.
AN EXAMPLE OF THIS CONFIDENCE WAS LEADING BUSINESSMAN MR LI KA-SHING'S RECENT ANNOUNCEMENT OF A US$5 BILLION-PLUS INVESTMENT IN A NEW CONTAINER TERMINAL, POWER GENERATION AND A NUMBER OF RESIDENTIAL PROJECTS, MR JOHNSON SAID.
"LAST OCTOBER, THE GOVERNOR ANNOUNCED THE DEVELOPMENT OF A NEW AIRPORT TO REPLACE THE PRESENT KAI TAK, AND A FIVE-FOLD EXPANSION OF OUR CONTAINER PORT FACILITIES.
"THE TOTAL COST OF THE PORT AND AIRPORT DEVELOPMENT WILL BE OVER US$16 BILLION. SO THERE IS PLENTY OF SCOPE, AND PLENTY OF OPPORTUNITIES FOR COMPANIES IN A VAST RANGE OF DIFFERENT ACTIVITIES,' HE SAID.
44
THE
"HONG KONG OFFERS OPPORTUNITIES IN ALMOST EVERY FIELD OF ACTIVITY: RETAILING, IMPORT AND EXPORT, MANUFACTURING, PARTICULARLY DESIGN AND OTHER SUPPORT SERVICES, THE FINANCIAL SECTOR, PROFESSIONS, INDUSTRIAL AND OTHER EQUIPMENT, EVERYTHING TO DO HUGE DEVELOPMENT PROJECTS PLANNED FOR THE NEXT DECADE AND BEYOND, ADDED.
WITH
*
HE
0
RVD PROPERTY REVIEW 1990
**
-
PRELIMINARY FIGURES
PRELIMINARY FINDINGS IN THE RATING AND VALUATION DEPARTMENT'S
INDICATE
END OF THAT AT THE REVIEW
1989 1990. PROPERTY
PROPERTY AS A VACANCIES WERE HIGHER THAN IN 1988, BOTH IN ABSOLUTE TERMS AND PERCENTAGE OF EXISTING STOCK, FOR ALL THE MAIN PROPERTY CLASSES.
THE PRELIMINARY FINDINGS WERE RELEASED TODAY (THURSDAY),
PARTICULARLY SIGNIFICANT WAS THE AMOUNT OF VACANT OFFICE (261,000 SQUARE METRES) AT THE YEAR END WHICH WAS MORE THAT AT THE END OF 1988, BUT ABOUT ONE-THIRD OF THE VACANT SPACE WAS COMPLETED IN THE LAST QUARTER OF 1989.
SPACE THAN DOUBLE
/PRIVATE DOMESTIC
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