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The Lands Department issued seven pre-sale consents for residential developments and two pre-sale consents for commercial developments in the fourth quarter of 2013.
According to the latest quarterly report, the seven pre-sale consents for residential developments involved a total of 3,718 uncompleted residential units. Five developments in Chung Hom Kok, Wan Chai, Yuen Long, Tai Po and Sha Tin, comprising a total of 2,220 residential units, were estimated to be completed in 2014. The remaining two developments in Wan Chai and Sham Shui Po, comprising a total of 1,498 residential units, were estimated to be completed in 2015.
Meanwhile, the two pre-sale consents for commercial developments did not include a pre-sale consent for a development in Kowloon Bay issued in October 2013 and subsequently cancelled in December 2013 upon receipt of a fresh application to revise the consent terms and conditions. The application was being processed.
The Department also issued one consent to assign for residential development in the fourth quarter of 2013. The consent to assign involved 928 residential units in a development in Sha Tin.
As at the end of December 2013, 20 applications for pre-sale consent for residential developments and four applications for pre-sale consent for commercial developments were being processed.
The 20 applications in respect of residential developments being processed involved a total of 7,697 units. Other than two applications with estimated development completion timing pending update by the vendors, further details are set out as follows:
No. of Year in which No. of
applications developments residential
estimated to be units involved
completed
4 2014 1,966
10 2015 4,175
4 2016 1,379
In addition, one application for consent to assign involving a total of 102 residential units and two applications for consent to assign for commercial developments were being processed.
Members of the public can obtain up-to-date information on pre-sale consents for residential developments issued for the past quarter, and cases pending approval as at the end of December 2013, by calling the Legal Advisory and Conveyancing Office's hotline (2147 5475) or visiting the Lands Department's website (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 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/Tuesday, January 7, 2014
Issued at HKT 18:23
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