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The Lands Department announced today (August 6) that it had issued three consents for residential units and one consent for a commercial development in July, 2007.
The three consents to sell involved 678 uncompleted residential units located in Tai Kok Tsui, Cheung Sha Wan and North Point, which are estimated to be completed during the period from January, 2008, to May, 2009.
As at the end of July, 11 applications for consent to sell residential units and six applications for consent to sell commercial developments were pending approval.
The applications for consent to sell residential units being processed involved a total of 9,450 units. Among them, seven applications, involving 4,058 units, are estimated to be completed in 2008 and the remaining four applications, involving 5,392 units, are estimated to be completed in 2009.
In addition, there were two applications for consent to assign involving 812 residential units and one application for consent to assign for commercial development pending approval.
People can obtain up-to-date information on consents to sell units in uncompleted residential or commercial developments issued for the last six months and cases pending approval as at the end of July, by calling the Legal Advisory and Conveyancing Office's Hotline 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/Monday, August 6, 2007
Issued at HKT 17:00
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