XN000022-1992-11-27 — Page 20

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FRIDAY, NOVEMBER 27, 1992

WILL

"FLEXIBILITY PROVISIONS WILL REMAIN THROUGHOUT THE TRANSITION BUT ANY EXISTING CUMULATIVE LIMITS ON THE USE OF SUCH PROVISIONS BE REMOVED," HE CONTINUED.

ON THE WHOLE, MR TSANG BELIEVED THE UR PACKAGE SHOULD PROVIDE NEXT 10 YEARS OUR TRADE WITH A GREATER DEGREE OF CERTAINTY OVER THE ON THE BASIS OF IMPROVED GROWTH LEVELS.

GOVT LOTS SOLD FOR $143 MILLION

OF $143

TWO PIECES OF GOVERNMENT LAND WERE SOLD FOR A TOTAL MILLION BY THE BUILDINGS AND LANDS DEPARTMENT IN A PUBLIC AUCTION THIS (FRIDAY) AFTERNOON.

THE FIRST LOT IS AT 35-42 ROSE STREET, YAU YAT TSUEN, KOWLOON.

IT WAS SOLD TO SANDSPRINGS LTD AT $98 NILLION WITH BIDDING OPENED AT $60 MILLION.

WITH AN

AREA OF ABOUT 1,312 SQUARE METRES, THE LAND IS INTENDED FOR PRIVATE RESIDENTIAL PURPOSES.

ACCORDING TO THE BUILDING COVENANT, THE DEVELOPER HAS ΤΟ COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 1.650 SQUARE METRES WITHIN THE TIME LIMIT LAID DOWN BY THE DIRECTOR OF BUILDINGS AND LANDS UPON REDEVELOPMENT.

WO,

LANTAU

THE SECOND LOT IS AT BUT WO FERRY PLER ROAD, MU 1 ISLAND. IT WAS BOUGHT BY NEW GROW DEVELOPMENT LTD AT THE ONSET PRICE OF $45 MILLION.

THE SITE WHICH HAS AN AREA OF ABOUT 741 EARMARKED FOR NON-INDUSTRIAL (EXCLUDING GODOWN, PURPOSES.

THE BUILDING COVENANT STIPULATES THAT THE COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 2,085 OR BEFORE DECEMBER 31, 1995.

THE AUCTION WAS CONDUCTED BY GOVERNMENT LAND HARDING, IN THE CITY HALL THEATRE.

SQUARE METRES IS CINEMA AND HOTEL)

DEVELOPER HAS TO SQUARE METRES ON

AGENT,

MR ROGER

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