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Three pre-sale consents issued in July
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     The Lands Department today (August 6) announced that it had issued two pre-sale consents for residential units and one for commercial development in July.

     The pre-sale consents for residential units involved 1,688 residential units in Tseung Kwan O and 13 residential units in Sha Tin. These developments are estimated to be completed in June 2010 and September this year respectively.

     As at the end of July, 14 applications for pre-sale consent for uncompleted residential units and one application for pre-sale consent for uncompleted commercial developments were pending approval.

     The 14 applications for pre-sale consent for uncompleted residential units being processed involved a total of 6,609 units. Among them, two developments involving 81 units are estimated to be completed this year, while 10 applications involving 5,483 units are estimated to be completed in 2010, and two applications involving 1,045 units are estimated to be completed in 2011.

     People can obtain up-to-date information on pre-sale consents for uncompleted residential developments issued for the last six months, and cases pending approval as at the end of July by calling Legal Advisory and Conveyancing Office's hotline (2147 5475) or on the Lands Department website (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.

     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, August 6, 2009
Issued at HKT 17:00

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