TNAG-2126-FCO40-3036-Investment-in-Hong-Kong-1990 — Page 55

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125

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CONFIDENTIAL #≈

2

3.

In terms of the usable floor area of

projects, building consents rose by 38 in 1989. In

1988, a decline of 13% was recorded. While consents in respect of residential property decreased markedly, consents in respect of commercial and

industrial property increased. Response to the Government land auctions in the fourth quarter of

1989 was mixed. Residential sites were generally better received than sites for commercial and industrial purposes.

CONFIDENTIAL #