TNAG-1039-FCO40-1289-Future-of-Hong-Kong-1981 — Page 159

BENEFITS OF THE PROJECT

AS SEEN BY THE DEVELOPER

ANNEX H

(a)

Benefits as Seen by the

Developer

the provision of over 600 hectares of developable land

in an area where the key site is under one single private ownership, with the majority of the remainder being Crown land;

(b) land formation could be

undertaken quickly, with the first building develop-

ment commencing two years after the inception of works;

(c) the provision of extra

land

would facilitate Government's

development programmes and make a significant contribu- tion to the economic

development of Hong Kong through greater industrial activity and enhanced revenue from rates, profit taxes,

etc.;

Government's Views

(a) The development potential of the site is recognised

but the future use of the

area must be within a region-

al framework.

(b) Probably, additional time would be required for

land settlement.

(c) The formation of additional

land would provide a useful contingency but development at Tin Shui Wai alone would not necessarily have the economic benefits claimed as these

could be equally achieved by development elsewhere.