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The Lands Department issued 15 pre-sale consents for residential developments and five pre-sale consents for commercial developments (including one pre-sale consent to replace another one issued in the third quarter of 2014 for the same commercial development in Tseung Kwan O) in the fourth quarter of 2015.
The 15 pre-sale consents for residential developments involve a total of 5,975 uncompleted residential units. Ten developments in Ap Lei Chau, Ma Tau Kok, Kai Tak, Ho Man Tin, Sai Kung and Yuen Long, comprising a total of 2,845 residential units, are expected to be completed in 2016. Four developments in Tseung Kwan O, Tuen Mun, Yuen Long and Ma On Shan, comprising a total of 2,833 residential units, are expected to be completed in 2017. The remaining development in Sai Kung, comprising 297 residential units, is expected to be completed in 2018.
The department also issued one consent to assign for residential development in the fourth quarter of 2015. The consent to assign involved 1,648 residential units in a development in Tseung Kwan O.
As at the end of December 2015, 23 applications for pre-sale consent for residential developments and six applications for pre-sale consent for commercial developments were being processed.
The 23 applications in respect of residential developments being processed involved a total of 10,718 residential units. Other than one application (involving 10 residential units) with estimated development completion timing pending update by the vendor, further details are set out as follows:
Year in which
developments
No. of are expected No. of residential
applications to be completed units involved
------------ --------------- ------------------
4 2016 1,148
7 2017 3,981
10 2018 4,559
1 2019 1,020
In addition, one application for consent to assign involving 1,092 residential units was 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 2015, 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 study carefully the 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 purchase. The sales brochure for a development also contains a summary of the provisions of the Deed of Mutual Covenant, including information on the common parts, the number of undivided shares assigned to each unit, the term of years for which the manager is appointed, the basis on which the management expenses are shared among the owners of the units, the basis on which the management fee deposit is fixed and the retained areas (if any), as well as a summary of the provisions of the government land grant, which intending purchasers are recommended to read carefully.
Ends/Thursday, January 7, 2016
Issued at HKT 17:06
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