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The Lands Department issued eight consents to sell units in uncompleted developments in the third quarter of 2008, of which seven consents were for the sale of units in residential developments and one was for the sale of commercial units.
The Lands Department announced today (October 8) that the seven consents to sell residential developments involved a total of 3,838 uncompleted units located in various districts of Hong Kong, comprising one in Victoria Road, one in Tai Kok Tsui, one in Tsuen Wan, one in Sha Tin, one in Tung Chung and two in Yuen Long, all estimated to be completed in 2009, with the earliest in June and the latest in December.
As at the end of September 2008, 20 applications for consent to sell uncompleted residential units and eight applications for consent to sell uncompleted commercial developments are being processed.
The 20 applications for consent to sell uncompleted residential units being processed involved a total of 8,340 units. Among them, one development involving 825 units is estimated to be completed in December 2008. Fourteen developments involving 3,466 units are estimated to be completed in 2009. Four developments involving 4,035 units are estimated to be completed in 2010. The remaining one, involving 14 units, is estimated to be completed in 2011.
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 September 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/Wednesday, October 8, 2008
Issued at HKT 17:00
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