TNAG-2127-FCO40-3037-Investment-in-Hong-Kong-1990 — Page 94

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L

C.F. 326

CONFIDENTIAL # 3

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3.

In terms of the usable floor area of

projects, building consents increased by 12% in the

first quarter over the same quarter last year. The

corresponding increase for 1989 as a whole was 3%.

While consents in respect of commercial and industrial

property increased, those in respect of residential

property decreased.

The results of the two Government

land auctions in the first quarter were generally

satisfactory, although developers appeared to have

remained cautious about investment in industrial

sites.

CONFIDENTIAL #