XN000022-1993-05-13 — Page 16

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1993/94 LAND SALES PROGRAMME

THURSDAY, MAY 13, 1993

THE GOVERNMENT'S LAND SALES PROGRAMME FOR 1993/94 WILL CONSIST OF 24.93 HECTARES OF LAND INVOLVING 34 SITES, ACCORDING TO THE PRINCIPAL GOVERNMENT LAND AGENT, MR BOB POPE.

ANNOUNCING THE DETAILS OF THE PROGRAMME, MR POPE SAID THE LAND WOULD INCLUDE 18.1 3 HECTARES FOR COMMERCIAL, COMMERCIAL/RESIDENTIAL AND RESIDENTIAL USES WHICH COULD PRODUCE SOME 11,500 FLATS, AND 3.91 HECTARES FOR INDUSTRIAL USE.

A LARGE SITE OF 1.57 HECTARES WOULD BE OFFERED FOR SALE UNDER THE PRIVATE SECTOR PARTICIPATION SCHEME AND IT WOULD PRODUCE A TOTAL OF 1,450 FLATS FOR THE HOME OWNERSHIP SCHEME.

DEMAND

HE SAID THE ADMINISTRATION WAS CONSCIOUS OF THE CURRENT IN THE PROPERTY MARKET AND WAS KEEN TO ENSURE THAT SUFFICIENT NUMBER OF FLATS WOULD BE PRODUCED FROM GOVERNMENT LAND SALES TO KEEP PROPERTY PRICES STABLE.

HE NOTED THAT THE LARGEST SITE IN THE LAND SALE PROGRAMME IS A 4.25-HECTARE LOT IN LUNG PING ROAD, TAI WOH PING WHICH HAD BEEN EARMARKED FOR RESIDENTIAL PURPOSE.

HE ALSO POINTED OUT THAT A CONSIDERABLE NUMBER OF FLATS ARE ESTIMATED то BE PRODUCED FROM DEVELOPMENTS ARISING FROM LAND EXCHANGES AND LEASE MODIFICATIONS BEING PROCESSED THIS YEAR WITH AN ESTIMATED REVENUE OF $9.875 BILLION.

THE LAND SALES PROGRAMME WILL INCLUDE THREE GOVERNMENT OFFICE BUILDING SITES WITH A TOTAL AREA OF 1.58 HECTARES IN FARM ROAD, TO KWA WAN, KING'S ROAD, NORTH POINT AND TONG YAN STREET, KWUN TONG.

IT WILL ALSO INCLUDE SIX SITES FOR LETTER A/B TENDER AMOUNTING TO 55,312 SQUARE METRES AND THIS WOULD RESULT IN THE SURRENDER OF 1,488,432 SQUARE FEET OF OUTSTANDING LETTER-B.

UPON COMPLETION OF THESE TENDERS, MR POPE SAID, THE AMOUNT OF LETTER-B OUTSTANDING WOULD BE NEARLY EXHAUSTED.

MILLION

HE SAID THE TOTAL REVENUE FROM LAND SALES WAS ESTIMATED ΤΟ BE $9,345 MILLION AS COMPARED TO THE ACTUAL REVENUE OF $11,511 FROM LAST YEAR'S LAND SALES.

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