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Four pre-sale consents issued in October

Four pre-sale consents issued in October
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The Lands Department announced today (November 4) that it issued three pre-sale consents for residential development, a pre-sale consent for commercial development and a consent to assign for residential development in October.

The three pre-sale consents for residential development involved a total of 2,138 units in Kowloon Tong, Tai Po and Sha Tin, which are expected to be completed in 2012. The consent to assign involved 1,368 residential units in a development in Sha Tin.

As at the end of October, 16 applications for pre-sale consent for uncompleted residential units and two applications for pre-sale consent for uncompleted commercial developments were pending approval.

The 16 applications for pre-sale consent for uncompleted residential units being processed involved a total of 5,727 units. Among them, a development involving 13 units is expected to be completed this year, while seven applications involve a total of 2,421 units expected to be completed in 2012 and six applications involve a total of 3,176 units expected to be completed in 2013. For the remaining two developments involving a total of 117 units, the expected completion dates are to be updated by the developers.

In addition, one application for consent to assign for commercial development is being processed.

Members of the public can obtain up-to-date information on pre-sale consents for uncompleted residential developments issued for the past six months, and cases pending approval as at the end of October, by calling the Legal Advisory and Conveyancing Office's hotline (2147 5475) or by visiting the Lands Department website (http://www.landsd.gov.hk/).

Intending purchasers are advised to carefully study details of the development and sales procedures, through information available from public advertisements, sales brochures and price lists released by the developer, before making a deposit for a purchase. The sales brochure for a development provided in both English and Chinese also contains the main points of the Deed of Mutual Covenant including information on common parts, undivided shares, terms of appointment of manager, principle/basis of fixing management fee, apportionment of management expenses, management fee deposit, retained areas (if any) and other relevant details, as well as any special features of the government land grant, which intending purchasers are recommended to read carefully.

Ends/Friday, November 4, 2011
Issued at HKT 17:17

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