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Lands Department issues 12 pre-sale consents in fourth quarter of 2017
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     The Lands Department (LandsD) issued nine pre-sale consents for residential developments and three pre-sale consents for commercial developments in the fourth quarter of 2017.

     The nine pre-sale consents for nine residential developments (of which two are phased developments) involve a total of 2,735 residential units. One development in Sha Tin, comprising 158 residential units, is expected to be completed in 2018. Four developments in Yuen Long, Sha Tin and Sham Shui Po and one phase each of two phased developments in Yuen Long and southwest Kowloon, comprising a total of 1,957 residential units, are expected to be completed in 2019. The remaining two developments in Tseung Kwan O and Tuen Mun, comprising a total of 620 residential units, are expected to be completed in 2021.

     Taking into account the pre-sale consents issued in the first three quarters in 2017, the LandsD issued a total of 37 pre-sale consents for residential developments involving 16,408 residential units in 2017.

     As at the end of December 2017, 24 applications for pre-sale consent for residential developments and four applications for pre-sale consent for commercial developments were being processed.

     The 24 applications in respect of residential developments being processed involve a total of 12,499 residential units. Details are set out as follows:
 
No. of applications Year in which developments are expected to be completed No. of residential units involved
8 2018 1,315
4 2019 1,008
8 2020 7,973
2 2021 1,999
2 Pending update by the vendors 204

     In addition, one application for consent to assign involving 683 residential units was being processed.

     Members of the public can obtain up-to-date information on consents issued for the past quarter and cases pending approval as at the end of December 2017 by visiting the LandsD's website.

     Intending purchasers are advised to study carefully the details of the development and the sale procedures, through information available from public advertisements, and 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/Friday, January 5, 2018
Issued at HKT 17:00
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