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The Lands Department announced today (September 6) that it had issued three consents for the sale of 3,308 residential units and one consent for a commercial development in August, 2006.
Two of the three consents involved two phases of a Ma Wan residential development which are estimated to be completed in April and June, 2007, respectively. Another consent was for a residential development in Tseung Kwan O which is estimated to be completed in February, 2008.
As at the end of August, 2006, 12 applications for consent to sell residential units and four applications for consent to sell commercial developments, were pending approval.
The applications for consent to sell residential units being processed involved a total of 4,303 units. Among them, one application involving 11 units is estimated to be completed in 2006. Seven applications, involving 2,095 units, are estimated to be completed in 2007 and the remaining four applications, involving 2,197 units, are estimated to be completed in 2008.
In addition, there were three applications for consent to assign involving 2,243 residential units pending approval.
People may obtain up to date information on consents to sell units in uncompleted residential or commercial developments issued for the last six months and cases pending approval as at the end of August, 2006, by calling the Legal Advisory and Conveyancing Office's Hotline No.2147 5475 or on the Lands Department website at www.landsd.gov.hk.
Intending purchasers are advised to carefully study details of the development and the sale procedures, through information available from public advertisement, sales brochure and price lists released by 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 deposits and other relevant details, as well as any special features of the Government land grant which intending purchasers are recommended to read carefully. They should also note that developers may hold sales of units by private sale direct with purchasers, for which, under the Consent Scheme, price lists are not required to be produced.
Ends/Wednesday, September 6, 2006
Issued at HKT 17:00
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