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Resumption of land sales seen this year

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The Government will probably re-start land sales this year with a shorter disposal programme and just a few sites, says an industry expert.

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Brooke International chairman Nicholas Brooke expects the Government to announce a nine-month land-sales programme to test the market reaction before expanding its scale.

He said it was possible the programme would involve only an average of two sites a month.

In the previous land-sales programme announced in 1997, the Government's schedule was over two years involving 100 sites.

Mr Brooke said the Government would be inclined to release more attractive sites such as lots in urban areas, which were likely to draw a better response from developers. He expected them all to be residential lots.

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While the Government has yet to make a decision, most market players agree that a resumption of land disposal is inevitable once the moratorium ends at the end of March.

Mr Brooke said the list of sites on sale would depend on the promises of developers to put down deposits ahead of sales under the proposed application-list method.

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