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The Lands Department issued three consents to sell units in uncompleted developments in the first quarter of 2008, of which two consents were for the sale of units in residential developments and one was for the sale of commercial units. The department also issued one consent to assign residential units in a completed development in this period.
The Lands Department announced today (April 7) that the two consents to sell residential developments involved a total of 2,276 uncompleted units in Aberdeen and Tseung Kwan O. These two developments are estimated to be completed by December 2008 and June 2009 respectively. The consent to assign the residential development involved 1,892 units in Tin Shui Wai.
As at the end of March 2008, 16 applications for consent to sell uncompleted residential units and eight applications for consent to sell uncompleted commercial developments are being processed.
The 16 applications for consent to sell uncompleted residential units being processed involved a total of 8,126 residential units. Among them, five developments involving 1,803 residential units are estimated to be completed in 2008. The other 11, involving a total of 6,323 units, are estimated to be completed in 2009.
In addition, there is an application for consent to assign completed commercial 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 March 2008 by dialling 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, April 7, 2008
Issued at HKT 17:00
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