***********************************************************
The Lands Department today (September 4) announced that it had issued a consent for residential units in August.
The consent to sell involved 524 uncompleted residential units in Tung Chung, which are estimated to be completed in June, 2009.
As at the end of August, 19 applications for consent to sell residential units and seven applications for consent to sell commercial developments were pending approval.
The applications for consent to sell residential units being processed involved 9,332 units. Among them, 16 applications, involving 6,985 units, are estimated to be completed in 2008 and 2009. The remaining three applications, involving 2,347 units, are estimated to be completed in 2010.
People can 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, by calling the Legal Advisory and Conveyancing Office's hotline at 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 the 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.
Intending purchasers 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/Thursday, September 4, 2008
Issued at HKT 17:00
NNNN