TNAG-1762-FCO40-2516-Economic-situation-in-Hong-Kong-1988 — Page 21

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23.

Comparing the first three quarters

of 1988 with the same period in 1987, an

increase of 2% in overall building consents

was recorded. There was an increase of 43%

for commercial property, but of only 3% for industrial property. As regards residential property, building consents increased by 47% in terms of the number of units and by 26% in

terms of floor area.

24.

(e) Land disposal

During the first three quarters of

1988, the Government sold, at auction and by

tender (including Letter A/B tenders), a

total of 45.8 hectares of land, comprising

3.4 hectares for industrial use and 42.4

hectares for non-industrial use. The latter

total included a site of 31.5 hectares for

the Container Terminal 7. The response to

land auctions conducted during the period was

generally favourable, suggesting that

developers remained optimistic about the

outlook for the property market.

25.

Twelve sites totalling 10.1

hectares were taken up in the Tai Po and Yuen

Long Industrial Estates in the first three

quarters of 1988, compared with a take-up of

16 sites totalling 13.4 hectares for 1987 as

a whole. Most of the 12 sites taken up so

far this year were allocated during the first

two quarters. Up to the end of September

1988, 95% of the land in the Tai Po

G.F. 326

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