The Lands Department issued a total of nine consents for the sale of residential units in uncompleted developments between January and March, 2005. The department also issued five consents for the sale of uncompleted commercial developments in this period. All of them were issued within the department's performance target time limit.
A spokesman for the Lands Department said today (April 7) that the nine consents involve 3,681 residential units located in various districts of Hong Kong. Five of these developments comprising 523 residential units are estimated to be completed within 2005 and the remaining four developments with 3,158 residential units by September, 2006.
The department issued five consents for the sale of 2,744 uncompleted residential units in March, 2005. The five developments are located in various districts of Hong Kong. Two of these developments are estimated to be completed within 2005 and the remaining three developments by September, 2006. One consent to assign 660 residential units was issued in March, 2005.
As at the end of March, 2005, 15 applications for consent to sell uncompleted residential developments involving a total of 6,316 residential units and two applications for commercial developments were pending approval. Two of the residential developments involving 224 residential units are estimated to be completed within 2005 and the remaining thirteen developments involving 6,092 residential units within 2006. There were also eight applications pending approval for consent to assign, three in respect of commercial developments and five residential developments comprising 2,297 units.
People may obtain up to date information on consents to sell residential units in uncompleted developments issued for the last six months and cases pending approval as at the end of March 2005 by dialling LACO's Hotline No. 2147 5475 or on the Lands Department Website at www.info.gov.hk/landsd/.
The names of the developer, its solicitors, authorised person (including the name of the firm), the main superstructure contractor, and, where applicable, the parent company of the developer, the mortgagee bank, the undertaking bank and the financier in respect of individual developments are also available to the public in the form of reports obtainable through the fax-on-demand facilities of the Hotline or the Lands Department Website. This information is also contained in the sale brochures, printed advertisements and websites.
Intending purchasers are advised to study details of the development and the sale proceedings, through information available from public advertisement, sales brochure and price lists released from 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 deposit and other relevant details.
Ends/Thursday, April 7, 2005