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Two residential pre-sale consents issued in the first quarter of 2007
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    The Lands Department issued five consents to sell residential units in the first quarter of 2007, of which two consents were for the sale of units in uncompleted residential developments and three were consent to assign units in completed residential developments.

     The Lands Department announced today (April 10) that the two consents to sell involved a total of 1,013 uncompleted residential units located in Diamond Hill and Pok Fu Lam. These two developments are estimated to be completed by April and September, 2008, respectively.

     The three consents to assign residential developments involve a total of 1,902 units in the Kowloon West district, Yuen Long and Ma Wan.

     As at the end of March, 2007, 10 applications for consent to sell uncompleted residential units and seven applications for consent to sell uncompleted commercial developments were pending approval.

     The 10 applications for consent to sell uncompleted residential units being processed involve a total of 4,503 residential units. Among them, three developments involving 1,988 residential units are estimated to be completed in 2007. The other seven, involving a total of 2,515 units, are estimated to be completed in 2008 and 2009.

     In addition, there are two applications for consent to assign involving 1,607 completed residential units pending approval.

     People can obtain up-to-date information on consents to sell units in uncompleted residential developments issued for the last six months and cases pending approval as at the end of March, 2007, by dialling Legal Advisory and Conveyancing Office's Hotline No. 2147 5475 or on the Lands Department website at www.landsd.gov.hk.

     Intending purchasers are advised to carefully study details of the developments and the sale procedures, through information available from public advertisement, sales brochure and price lists released by 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 deposits and other relevant details, as well as any special features of the Government land grant, which intending purchasers are recommended to read carefully.

     They should also note that developers may hold sales of units by private sale direct with purchasers, for which, under the Consent Scheme, price lists are not required to be produced.


Ends/Tuesday, April 10, 2007
Issued at HKT 17:00

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