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37.
The complexity and importance of this work for the future of
Hong Kong explains the recent appointment of a separate Secretary for
Land and Works.
A
Commercial & Industrial Building
38.
Planned provision of job opportunities is an essential element
+
of development. Construction of commercial buildings in both the old
be urban areas and also in the New Towns has responded fast to the demand
created by the increasing size of the tertiary sector and to the very
high prices that some were prepared to pay for shops, offices and other
commercial premises. Total stock of floor space will increase by 11%
this year and by a further 12% next year. Similarly, substantial
progress has been made with the construction of factory space of which
the total area will increase by 11% this year and 13% next. Taken
together a further 2.9 million square metres will be added to our
commercial and industrial floor space bringing the increase in total
stock over the two year period to a staggering 25%.
HOUSING
39.
Our hopes for a better-housed population have been constantly
deferred by rephasing in the recession of 1974 and in the over-heated
economic situation of 1979, and subsequently and most importantly by
the wave of immigration. Though, as I shall show, our housing production
is now beating all records, there is still a clear need for expansion of
the housing programme.
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