Following is a transcript (English portion) of the Secretary for Housing, Planning and Lands, Mr Michael Suen, speaking to the press at CGO today (January 21).
Reporter: Can you explain the proposal to sell the two HOS (Home Ownership Scheme) projects to property developers?
Secretary for Housing, Planning and Lands: There are two kinds of HOS flats. One built by the government and we have no intension of selling them. Another kind of HOS flats are under the Private Participation Scheme. These are flats built by the land owner and they belong to particular land owner. In course, there is a proposal to allow them not to sell those flats to people who are eligible under the Home Ownership Scheme. But to dispose of them in the open market to any buyers, then that brings about the question of a premium to be paid by the developer to pay for the difference in price for the two different categories. And the government is at the moment negotiating with the developer in terms of the modification premium to be paid.
Reporter: Have you decided on ways to dispose of HOS flats built by the government?
Secretary for Housing, Planning and Lands: Not at the moment, because there are other options for us to consider and until such time that we have exhausted all other options, we will not be considering any proposal to sell it to the private market.
Reporter: How long would it take for you to exhaust all other options?
Secretary for Housing, Planning and Lands: We allow ourselves a year.
(Please also refer to the Chinese portion.)
End/Tuesday, January 21, 2003
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