XN000022-1995-02-21 — Page 7

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Stock in this sector, at the end of 1993, was a low 15,000 square metres. However, excluded from this figure is strata-title floorspace with temporary planning permission for industrial-office use and short-term waivers of Crown Lease restrictions. This space remains classified as flatted factory.

Supply in 1994 was 24,000 square metres, all in one development, and looks set to rise in 1995 and 1996 to 82,000 square metres and 239,000 square metres respectively.

The 1995 floorspace encompasses six separate developments and the 1996 floorspace, 11 separate developments. The outcome depends of course on whether all modifications are successfully concluded. Early indications are that supply in 1997 will significantly exceed 1996 levels.

Take-up in 1994 was 16,000 square metres and the vacancy figure at the year- end was 21.9% of stock. Vacancy was largely attributable to the single development completed in 1994.

Attention News Editors:

The Commissioner of Rating and Valuation, Mr Barry Woodroffe, and an assistant commissioner, Mr Mok Kam-kwan, will be available to meet the media at 4.30 pm today in the conference room on the 26th floor of Hennessy Centre, 500 Hennessy Road, Causeway Bay.

Please note that the figures are provisional pending further data and analysis work and may be amended when the property review is published.

The domestic price indices at Appendix A are those derived from monthly analysis of Sale and Purchase Agreements in selected developments. The domestic indices at Appendices B, C and D are the department's quarterly indices derived from sales and rents for properties of virtually all ages and in all locations. Sales of new properties from developers are not included in any of these indices.

For enquiries, please call Assistant Commissioner Mr K K Mok on telephone 2805 7603, Technical Secretary Mrs M Bird on 2805 7614 and Assistant Technical Secretary Mr C H Chan on 2805 7633.