TNAG-1611-FCO40-2214-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1987 — Page 92

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Where private developers already own a significant portion of the properties to be developed, they can

Ө cooperate with the Land Development Corporation and make use of the latter's ability to negotiate and acquire the

remainder of the properties for development.

to

The private sector developers can provide financial support in the acquisition of properties and in development, in the form of joint ventures.

The private sector developers can provide development experience and expertise in the financial appraisal of

the viability of a project.

The private sector developer can actually develop a project on behalf of the Land Development Corporation

with the latter agreeing with it the development brief.

The Land Development Corporation will monitor the quality of the development ensuring its objectives are

met.

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Professionals in the private sector : architects, engineers, surveyors, estate managers, will provide their professional expertise in the physical

implementation, the marketing and the management of the

Land Development Corporation's projects.

In order that public interest be protected, especially

those individual owners and tenants whose properties will be

resumed, the Land Development Corporation Bill provides for a system of procedural controls. This inevitably means that developments will not be as expedient as developments in the

private sector.

I consider that these procedural controls are important:

and that if the Land Development Corporation applies itself purposefully and energetically to its tasks, it will accomplish