XN000022-1994-03-10 — Page 6

THURSDAY, MARCH 10, 1994

5

ON COMMERCIAL LAND, MR EASON SAID MORE LAND FOR COMMERCIAL USES WAS EXPECTED TO COME OUT OF REDEVELOPMENT AS A RESULT OF REZONING ΤΟ COMMERCIAL USES IN LARGE AREAS IN KOWLOON SOUTH AND ALONG NATHAN ROAD.

-

HE NOTED THE ACHIEVEMENT IN INCREASING THE SUPPLY OF NEW LAND HAD BEEN ENORMOUS

HAVE ALMOST 9,000 HECTARES OF LAND

BEEN MADE AVAILABLE IN THIS WAY IN THE NEW TOWNS OVER THE LAST 20 YEARS AND THIS PROCESS WAS CONTINUING.

"RECLAMATION HAS ALSO BEEN AN IMPORTANT SOURCE OF NEW LAND AND THAT PROCESS ALSO IS CONTINUING, AS THE WEST KOWLOON RECLAMATION GROWS BEFORE OUR EYES, NOT TO MENTION OTHER SMALLER AREAS AROUND THE HARBOUR AND OF COURSE THE NEW AIRPORT AT CHEK LAP KOK.

"BUT, THE SUPPLY OF NEW LAND IS ALWAYS FINITE AT ANY PARTICULAR TIME BECAUSE RECLAIMING FROM THE SEA AND BUILDING INFRASTRUCTURE TAKE TIME AND REQUIRE VERY LARGE CAPITAL INVESTMENT.

"THE SECOND METHOD OF INCREASING LAND SUPPLY IS ΤΟ UNLOCK EXISTING LAND IN THE OLDER, UNDERDEVELOPED PARTS OF THE CITY THROUGH

REDEVELOPMENT."

HE SAID STATISTICS SHOWED REDEVELOPMENT HAD BECOME INCREASINGLY IMPORTANT AS A FLAT PRODUCER, REPRESENTING SOME 53 PER CENT OF NEW FLATS IN 1991, 63. PER CENT IN 1992 AND 73 PER CENT IN 1993.

IT IS EXPECTED FLATS FROM REDEVELOPMENT WILL REPRESENT AN AVERAGE OF SOME 60 PER CENT 70 PER CENT OF RESIDENTIAL FLAT SUPPLY

IN THE COMING FIVE YEARS.

—

LAND

HE ALSO SAID ADDITIONAL RESOURCES WOULD BE PROVIDED то THE DEPARTMENT IN 1994/95 TO SPEED UP THE PROCESSING OF

NEW LANDS GRANTS, LAND EXCHANGES AND LEASE MODIFICATIONS.

BY SPEEDING UP THIS PROCESS, IT IS EXPECTED THE FLAT PRODUCTION RATE WILL INCREASE BY 2,000 UNITS A YEAR.

THE GOVERNMENT HAS ALSO ADOPTED MEASURES TO STREAMLINE THE PROCESSING OF DEVELOPMENT AND REDEVELOPMENT PROPOSALS AFTER DISCUSSIONS WITH THE DEVELOPERS AND PROFESSIONAL BODIES REPRESENTED IN THE LAND AND BUILDING ADVISORY COMMITTEE.

NEW PRACTICE NOTES TO GUIDE THE PREPARATION AND PROCESSING OF MASTER LAYOUT PLANS AND DESIGN, DISPOSITION AND HEIGHT CLASS SUBMISSIONS UNDER LEASE CONDITIONS AND TIME LIMITS HAVE BEEN INTRODUCED.

IN ADDITION, THE GOVERNMENT IS LOOKING FOR WAYS TO PROVIDE MORE PRIVATE SECTOR OPPORTUNITIES TO SUPPLEMENT LAND SUPPLY.

APPLY

TO

A LARGE

ONE APPROACH MIGHT BE TO ALLOW A DEVELOPER ΤΟ GOVERNMENT FOR PROPERTY TO BE RESUMED WHERE HE ALREADY OWNS MAJORITY OF THE PROPERTY NEEDED TO PERMIT WORTHWHILE REDEVELOPMENT BUT THE ACQUISITION OF A FEW UNITS IS FRUSTRATING HIS EFFORTS.

MR

RESIDENTS

DEVELOPERS

WOULD

EASON EMPHASISED THAT THE RELOCATION OF EXISTING ON FAIR AND EQUITABLE TERMS WOULD BE ESSENTIAL AND HAVE TO PLAY A PART IN THIS.

/THE GOVERNMENT