TNAG-0806-FCO40-1011-Policy-of-Government-of-Hong-Kong-on-land-in-the-New-Territo-1979 — Page 88

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land for exchanges, but that in practice

the following proportions of available

land in different zonings would be

allocated for exchanges :

(i) Commercial Residential and

Zone 1 Residential

75%

(ii) Zones 2, 3 and 4 Residential

75%

(iii) Industrial

40%

A certain proportion of all types of

land must be kept available for public

auction or tender. In the case of

industrial land, moreover, disposal by

exchanges is not popular, as it involves

a greater initial investment than an

auction sale in which the total land

costs can be paid by instalments.

5.13.3 that a reasonable period in which

Government should meet its commitments

is about 3 to 4 years from the date

of surrender of the private land (see

paragraph 2.2).

5.14 While the tables at Enclosures 8 and 9 give

considerable hope that the proposed system should solve

the existing problems of over-commitment, its success

will depend very largely on two factors :

/5.14.1...