TNAG-1267-FCO40-1616-Economic-situation-in-Hong-Kong-1983 — Page 51

FC040/1616

that prices of some building materials such as steel bars

have increased rapidly during the third quarter,

reflecting the adverse effect of the depreciation of the

Hong Kong dollar. The Tender Price Index for public building projects prepared by the Architectural Office and

the Tender Price Index for public housing projects prepared by the Housing Department, fell by 19% and 11%

respectively in the second quarter of this year compared

with the same period last year. The difference between

the changes in the various indexes was probably due to the variations in profit margins.

Land

5.12

In the third quarter of 1983, the Government

offered 0.87 hectares of industrial land and 5.86 hectares

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

by tenders (including Letter A/B tenders). A total of

2.98 hectares of land, comprising 0.38 hectares for

industrial use and 2.60 hectares for non-industrial use,

were actually sold. Comparing the first nine months of this year with the same period last year, the total area of land sold decreased by 3%, made up of a decrease of 70%

for industrial land and an increase of 16% for

(11) non-industrial land

As there were relatively

few

transactions in the third quarter of 1983, a meaningful

assessment of the movement in land prices during this period cannot be made.

/ Electricity

(11) The take-up rate was 42% for industrial land,

industrial land, and 72% 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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