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The Lands Department issued two consents to sell units in uncompleted developments in the fourth quarter of 2007. One consent was for the sale of units in a residential development and one was for the sale of commercial units. The department also issued two consents to assign residential units in completed developments in this period.
The Lands Department announced today (January 7) that the consent to sell the residential development involved 2,470 uncompleted units in Kowloon. The development is estimated to be completed in May 2008. The two consents to assign residential developments involved a total of 953 units in Pokfulam and Kwai Chung.
As at the end of December 2007, 18 applications for consent to sell uncompleted residential units and five applications for consent to sell uncompleted commercial developments are being processed.
The 18 applications for consent to sell uncompleted residential units being processed involve a total of 9,329 residential units. Among them, eight developments involving 2,746 residential units are estimated to be completed in 2008. The other 10, involving a total of 6,583 units, are estimated to be completed in 2009.
In addition, there is an application for consent to assign involving 1,892 completed residential units being processed.
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 December 2007 by dialling the 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 advertisements, sales brochures 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 the 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, January 7, 2008
Issued at HKT 17:00
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