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The Lands Department announced today (October 7) that it had issued four pre-sale consents to sell units in uncompleted developments in the third quarter of 2011, of which two consents were for the sale of residential units and two were for the sale of commercial development.
The two pre-sale consents for residential developments involved a total of 575 uncompleted units. One development in Discovery Bay comprising 164 units is estimated to be completed in August 2012. Another development in Aberdeen comprising 411 units is estimated to be completed in December 2012.
As at the end of September, 18 applications for pre-sale consent for uncompleted residential units and three applications for pre-sale consent for uncompleted commercial developments are being processed.
The 18 applications for pre-sale consent for uncompleted residential units being processed involved a total of 7,763 units. Among them, one development involving 13 units is estimated to be completed this year, nine developments involving a total of 4,457 units are estimated to be completed in 2012, and six developments involving a total of 3,176 units are estimated to be completed in 2013. For the remaining two developments involving a total of 117 units, the estimated completion dates are to be updated by the developers.
In addition, one application for consent to assign involving 1,368 residential units and one application for consent to assign for commercial development are being processed.
Members of the public can obtain up-to-date information on pre-sale consents for uncompleted residential developments issued for the last six months, and cases pending approval as at the end of September, by calling the Legal Advisory and Conveyancing Office's hotline (2147 5475) or by visiting the Lands Department website (www.landsd.gov.hk).
Intending purchasers are advised to carefully study details of the development and sales 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 provided in both English and Chinese also contains the main points of the Deed of Mutual Covenant including information on common parts, undivided shares, terms of appointment of manager, principle/basis of fixing management fee, apportionment of management expenses, management fee deposit, retained areas (if any) and other relevant details, as well as any special features of the Government land grant, which intending purchasers are recommended to read carefully.
Ends/Friday, October 7, 2011
Issued at HKT 17:01
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