TNAG-1762-FCO40-2516-Economic-situation-in-Hong-Kong-1988 — Page 19

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engineering projects of the private sector,

i.e. the Eastern Harbour Crossing and the

Kwai Chung Container Terminal 6, was also

intensive. For the public sector, major projects included the New Territories Circular Road improvement, the Junk Bay

Tunnel, Route 5 linking Sha Tin with Tsuen

Wan, the Hong Kong Cultural Centre and the

Tuen Mun Hospital.

(c)

Supply of new property in the

private sector

Table 4

17.

Caution should be exercised in

interpreting the quarterly figures on

building completions because they are subject

to short-term fluctuations which often bear

little systematic relationship to the

underlying trend (the same applies to the

quarterly figures on building consents).

Comparisons covering a longer period are,

thus, usually more meaningful.

18.

Completions of industrial premises

increased by 132% in terms of floor area in

the third quarter of 1988 (Table 4). For the

first three quarters of 1988 as a whole, the

increase was 108%, following a decline of 21%

in 1987.

19.

Completions of private sector

office space rose by 226% in terms of floor

area in the third quarter. In the first

three quarters of 1988, completions were 102%

G.F. 326

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