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The Lands Department issued three consents for the sale of residential units in uncompleted developments and three consents to assign completed residential developments between October and December, 2005.
A spokesman for the Lands Department said today (January 6) that the three consents involved 1,724 uncompleted residential units, all located in the Kowloon district. These three developments are estimated to be completed by May, 2007.
Two of the three consents to assign residential developments involved 1,664 units in Tung Chung and 640 units in Sheung Shui. The remaining consent to assign, issued in December, 2005, involved 300 residential units in the Hong Kong district.
As at the end of December, 2005, four applications for consent to sell uncompleted commercial developments and nine applications for consent to sell uncompleted residential developments involving a total of 5,238 residential units were pending approval. Two of the residential developments involving 2,159 residential units are estimated to be completed within 2006 and the remaining seven developments involving 3,079 residential units by December, 2007.
There were also two applications pending approval for consent to assign 1,602 residential units.
People may obtain up to date information on consents to sell residential units in uncompleted developments issued for the last six months and cases pending approval as at end of December, 2005 by dialling Legal Advisory and Conveyancing Office's Hotline No. 2147 5475 or on the Lands Department website at www.landsd.gov.hk.
The names of the developer, its solicitors, authorised person (including the name of the firm), the main superstructure contractor, and, where applicable, the parent company of the developer, the mortgagee bank, the undertaking bank and the financier in respect of individual developments are also available to the public in the form of reports obtainable through the fax-on-demand facilities of the Hotline or the Lands Department website. This information is also contained in the sale brochures, printed advertisements and websites of individual developments.
Intending purchasers are advised to study details of the development and the sale procedures, through information available from public advertisement, sales brochure and price lists released from the developer before making a deposit for a purchase. The sales brochure for a development (normally including a Chinese version) also contains the main points of the Deed of Mutual Covenant, including the definition of common areas, terms of appointment of manager, the basis of calculating management fees, amounts of any deposit and other relevant details, which intending purchasers are recommended to read carefully.
Ends/Friday, January 6, 2006
Issued at HKT 17:00
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