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Moreover, though this web site was zoned as industrial, it would little question have knock-on effects on land valuations of residential property, including land transferred to the Housing and Improvement Board (HDB) for public housing. Already, it's believed — and the government, in its refusal to reveal details, has not mentioned in any other case — that more than half the promoting price of a 99-year leasehold of an HDB flat really consists of notional land value alone.
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