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The Lands Department issued two consents to sell units in uncompleted developments in the second quarter of 2007, of which one consent was for the sale of units in a residential development and the other was for the sale of commercial units. The Department also issued three consents to assign units in completed developments in this period, of which two consents were for residential units and one was for commercial units.
The Lands Department announced today (July 6) that the consent to sell residential development involved 11 uncompleted units located in Sha Tin. The development has now been completed. The two consents to assign residential developments involved a total of 1,430 units in Tung Chung and Ma Wan.
As at the end of June 2007, 12 applications for consent to sell uncompleted residential units and seven applications for consent to sell uncompleted commercial developments are pending approval.
The 12 applications for consent to sell uncompleted residential units being processed involved a total of 7,510 residential units. Among them, one development involving 85 residential units is estimated to be completed in 2007. The other 11, involving a total of 7,425 units, are estimated to be completed in 2008 and 2009.
In addition, there are two applications for consent to assign involving 812 completed residential units pending approval.
Members of the public 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 June 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 development 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.
Intending purchasers 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/Friday, July 6, 2007
Issued at HKT 17:00
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