TNAG-1267-FCO40-1616-Economic-situation-in-Hong-Kong-1983 — Page 280

Land

FC040/1616

of

5.15

In the first half of 1983, the Government offered

5.33 hectares of industrial land and 41.44 hectares

non-industrial land for sale at Crown land auctions and by

tenders (including Letter A/B tenders). A total of 33.43 hectares of land, comprising 2.20 hectares for industrial use

and 31.23 hectares for non-industrial use, were actually

sold(12). Compared with the first half of 1982, the total

area of land sold increased by 25%, made up of a decrease of

728 for industrial land and an increase of 64% for

non-industrial land; but it is important to note that these figures were subject to considerable short term variations.

There is no reliable overall measure of movements in land

prices. Nevertheless, it appears that although the trend of falling land prices continued into 1983, by mid year, prices of industrial land had begun to stabilize (paragraph 6.5).

Electricity and gas

5.16

Electricity consumption in the first half of 1983, at 6 165 million kilowatt hours, was 13% higher than in the first half of 1982. Industrial consumption increased by 4%, while the amount of electricity consumed by domestic users and by commercial users increased by

by 18% and 17% respectively. Electricity exports to China amounted to 112 million kilowatt hours, equivalent to 2% of the total electricity consumption in Hong Kong. Town gas consumption was 27% higher in the first half of 1983 than in the first half of 1982. Domestic

and 32%

26%

consumption and commercial consumption rose by 26% respectively.

and

(12)

/Activity

The take-up rate was 41% for industrial land, and 75% for non-industrial land. In the first quarter of 1983, a non-industrial site of 21 hectares was offered and sold by the Government to the private sector for building a marina and low density residential housing.

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