XN000022-1990-03-30 — Page 13

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FRIDAY, MARCH 30, 1990

SALES OF RESIDENTIAL DEVELOPMENTS WOULD INCLUDE SEVEN SITES IN TUEN MUN, FANLING, CLEAR WATER BAY ROAD, ΤΑΙ PO, CAUSEWAY BAY AND LOWER SHING MUN. THE LOWER SHING MUN SITE WOULD BE THE BIGGEST WITH AN AREA OF 1.6 HECTARES.

EIGHT LOTS WOULD BE SOLD BY AUCTION FOR INDUSTRIAL/GODOWN USES, INCLUDING THREE IN AREA 11 OF SHA TIN.

TURNING TO THE CASH TENDER SALES, MR POPE SAID TWO SITES WOULD BE OFFERED UNDER THE PRIVATE SECTOR PARTICIPATION SCHEME (PSPS) AT LOCATIONS IN SIU SAI WAN AND MA ON SHAN WHICH MEASURE 32,800 AND 43,000 SQUARE METRES RESPECTIVELY.

FLATS.

THESE SITES WOULD BE DEVELOPED ΤΟ PROVIDE ABOUT 7,000 PSP3

IN ORDER TO MEET THE ONGOING LETTER A/B COMMITMENT, A TOTAL OF EIGHT SITES WITH A TOTAL AREA OF 7.64 HECTARES WOULD BE TENDERED.

FOUR OF THEM WOULD BE IN SHA TIN, TWO IN FANLING, ONE IN TSUEN WAN AND ONE IN KAU WAH KENG.

"PURCHASERS OF THESE SITES WOULD HAVE THE OPTION OF SUBMITTING EITHER A 'VINTAGE' OR A * MONETISED LETTER B' TENDER, WITH PRIORITY GIVEN TO THE FORMER, MR POPE SAID.

THE SITES WOULD EQUATE TO A LETTER B REDEMPTION OF MORE THAN TWO MILLION SQUARE FEET AGAINST A CURRENT COMMITMENT OF ABOUT NINE MILLION SQUARE FEET.

HE WAS CONFIDENT THAT LETTER B COMMITMENT WOULD BE REDEEMED IN THE NEXT THREE TO FOUR YEARS.

MR POPE ANTICIPATED THAT THE LAND SALES WOULD GENERATE SOME $5.8 BILLION.

..

"THIS IS LESS THAN WHAT WE GOT THIS YEAR, HE SAID, THAT THIS WAS DUE MAINLY TO THE ABSENCE OF HIGH VALUE SITES URBAN AREA.

IN

ADDING THE

MR POPE STRESSED THAT THE SALES PROGRAMME WAS ONLY PROVISIONAL AND COULD BE SUBJECT TO CHANGE.

FURTHER DETAILS AND DATES OF SALE WILL BE PUBLISHED IN THE GAZETTE AND MAJOR NEWSPAPERS,

COPIES OF THE TENTATIVE LAND SALES PROGRAMME FOR THE YEAR ARE AVAILABLE FROM THE BUILDINGS AND LANDS DEPARTMENT, 14TH FLOOR, MURRAY BUILDING, GARDEN ROAD, HONG KONG OR FROM ANY DISTRICT LANDS OFFICES.

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