XN000022-1994-11-11 — Page 10

FRIDAY, NOVEMBER 11, 1994

QUESTION:

S

FOR

W:

PROCEDURES, I PASSED BACK.

BUT THAT'S JUST ON THE GENERAL TENDERING PROCEDURES.

I SAID THAT THE QUESTION

ΤΟ TENDER WAS RELATING DID NOT SAY THAT THIS WAS THE INFORMATION WHICH HAD BEEN THE INFORMATION HAS BEEN PASSED BACK AND WE BELIEVE WILL

BE ADEQUATE.

QUESTION:

PASSED HAS HONG KONG GOVERNMENT CHINESE SIDE FOR FURTHER GRANTING OF THE CONTRACT CONCERNING (INAUDIBLE)?

INFORMATION ΤΟ

THE

-

ANY NEW CONTRACT

S FOR QUESTIONS THANK YOU.

W:

WELL AS YOU KNOW, WE DO TRY TO RESPOND FORMALLY TO AND TO MAKE ANY NECESSARY INFORMATION AVAILABLE.

ALRIGHT,

NO CASE FOR INTERVENTION OF OFFICE MARKET

+ # *

THE

TO

GOVERNMENT WILL CONTINUE TO MONITOR CLOSELY DEMAND AND SUPPLY IN THE OFFICE MARKET AND, WHERE NECESSARY, TAKE STEPS REMOVE SUPPLY CONSTRAINTS, BUT WILL NOT INTRODUCE ADMINISTRATIVE MEASURES TO INTERVENE IN THE MARKET OPERATION.

THIS IS BASED ON THE CONCLUSION OF A WORKING GROUP WHICH WAS ESTABLISHED UNDER THE TASK FORCE ON LAND SUPPLY AND PROPERTY PRICES IN JULY TO REVIEW THE OFFICE MARKET.

**THE

MARKET IS ON A COURSE OF SELF-CORRECTION IN LINE WITH THE NORMAL CYCLE," SAID THE SECRETARY FOR PLANNING, ENVIRONMENT AND LANDS, MR TONY EASON, WHO HEADS THE TASK FORCE.

"THERE ARE THE EXPECTED SIGNS THAT TENANTS ARE RESISTING RENTS AND IN SOME CASES RELOCATING THEIR OPERATION ΤΟ AREAS RENTS ARE LESS EXPENSIVE.

HIGH

WHERE

ACCOMMODATION

IN

"THERE IS A WIDE RANGE OF CHOICES OF OFFICE MARKET AND A SUBSTANTIAL ADDITIONAL SUPPLY OF GOOD QUALITY ACCOMMODATION 18 IN SIGHT." REASON SAID.

IS

THE

THE REVIEW OF OFFICE MARKET PUBLISHED TODAY (FRIDAY) NOTES THAT SINCE 1991, OFFICE RENTS HAVE INCREASED AN AVERAGE OF 12.8 PER CENT PER ANNUM, WHICH IS LOWER THAN THE YEARLY AVERAGE OF 15 PER CENT OVER THE PAST 15 YEARS.

FOREIGN COMPANIES

"THERE IS NO SOLID EVIDENCE TO SUGGEST THAT ARE LEAVING HONG KONG IN A SIGNIFICANT WAY BECAUSE OF BIGH OFFICE RENTALS," MR EASON SAID,

"ON THE CONTRARY, THE NUMBER OF OVERSEAS COMPANIES REGISTERED HONG KONG HAS CONTINUED TO INCREASE WHEREAS THE NUMBER C'EASING OPERATION HERE HAS DECLINED OVER RECENT YEARS.

IN

/"FOR A

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