Talks on for land disposal

PUBLISHED : Wednesday, 17 May, 1995, 12:00am
UPDATED : Wednesday, 17 May, 1995, 12:00am

THE Sino-British Land Commission will meet in the next fortnight to decide the land disposal programme for the current financial year, Chinese team leader Chen Rongchun said yesterday.

Following a briefing to the Heung Yee Kuk on land disposal policy, Mr Chen said the commission should be able to hold the meeting before the end of the month.

Mr Chen would not say how much land would be granted this year.

But he rejected suggestions that the slump in property prices and lukewarm response to previous land auctions would reduce the amount.

'The two [response to land sales and the land grant] are not necessarily related to each other. Land prices rise and fall according to the economic situation of Hong Kong, it has nothing to do with the amount of land grant,' he said.

'[The amount of land grant] is based on the actual need in relation to the economic and social development, the need of different businesses, as well as the need to improve the livelihood of the people,' Mr Chen said.

He said the Land Commission would be extremely cautious in deciding the amount of land grant.

He expected that the demand for land would be increasing, reflecting society's development as a whole.

Mr Chen queried whether the rise and fall of property prices was directly a result of the land grant.

'It is normal [that land prices] rise and fall, this has no direct link with the amount of land disposed, they cannot be linked together. Property prices fluctuated even before the establishment of the Land Commission,' Mr Chen said.