Land sale and development programme discussed

The Land and Building Advisory Committee today (April 9) discussed the Land Sale and Development Programme for 2002/03 to 2006/07.

"Members generally welcome the land sale arrangement, in particular the Application List system introduced since 1999, which can give flexibility to land sale by allowing the market to determine the timing, the amount and type of land required in the territory," the Chairman of the Committee, Professor Yeung Yue-man, said after the meeting.

"Members believe that what we need is a transparent land sale system. The current system has proved to be successful in this respect. The arrangement can also help maintain stability in the property market," Professor Yeung added.

The Committee also discussed the West Kowloon Reclamation Concept Plan Competition.

"Members are impressed by the conceptual plan and the special features of the First Prize Winner, particularly the great canopy. The Committee agrees with the Jury that this plan, if materialized, will create a unique landmark in the territory and establish Hong Kong as a city of world-class arts and cultural activities. Members are looking forward to the new face of West Kowloon and urge the Government to expedite the planning process," Professor Yeung said.

End/Tuesday, April 9, 2002