ENG-1994 — Page 262

HOUSING

The main scheme involves the granting of sites at concessionary premiums to the Housing Society for constructing flats for sale to eligible sandwich class families at affordable prices. The original target was to produce and offer 10 000 flats to the sandwich class by 1997. Ten sites with a production capacity of over 10 000 flats have been identified by the administration and endorsed by the Sino-British Land Commission for this purpose. The first such flats from the Tsing Yi site were put up for pre-sale at the end of 1994 and will be ready for occupation by end-1995. Flats from the other nine sites will come on stream by the end of 1997.

As one of the measures to curb the property price spiral, the Task Force on Land Supply and Property Prices recommended in June that the main scheme be extended to provide an extra 10 000 flats between 1997 and 2000. Sites have been identified for this purpose. Subject to the agreement of the Land Commission, these sites will be allocated to the Housing Society between 1994 and 1997.

וי

וי

"

225