XN000022-1996-04-26 — Page 17

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"The development will accommodate about 8,800 local residents who are going to be affected by redevelopment and demolition of old public housing estates in the district," a spokesman for the Town Planning Board said. To compensate for the loss of the 'O' site, the existing site of the Cheung Sha Wan Estate, which will soon be demolished, has been rezoned from 'R(A)' to 'O'.

"The new 'R(A)' site is more suitable for residential development as compared with the Cheung Sha Wan Estate site which is affected by the traffic noise of Lai Chi Kok Road," he explained.

The amendment plan (No S/K5/11) is now available for public inspection until May 17 during normal office hours at :

* Planning Department, 16th floor, Murray Building, Garden Road, Central,

Hong Kong;

Tsuen Wan, Kwai Tsing and Sham Shui Po District Planning Office, 27th floor, Tsuen Wan Government Offices, 38 Sai Lau Kok Road, Tsuen Wan, New Territories; and

Sham Shui Po District Office, 6th floor, West Coast International Building, 290 Un Chau Street, Cheung Sha Wan, Kowloon.

Any person affected by the amendment plan may submit written objections to the Secretary of the Town Planning Board, c/o Planning Department, 13th floor. Murray Building, Garden Road, Central, Hong Kong on or before May 17.

Copies of the draft plan are on sale at the Survey and Mapping Office, Lands Department, 14th floor, Murray Building, Garden Road, Hong Kong and Kowloon Map Sales Office, ground floor, 382 Nathan Road, Kowloon.

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Residential mortgage survey results for March

Residential mortgage loans for the purchase of properties in Hong Kong continued to grow at a rapid pace in March, according to the results of the latest monthly survey conducted by the Hong Kong Monetary Authority (HKMA).

The latest figures show that the total amount of outstanding mortgage lending by the 33 institutions in the survey increased by 1.6% (the same rate of growth as in February) to $285 billion. The growth rate was in line with the monthly average of

1.6% over the last twelve months.