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The Lands Department announced today (July 7) that it had issued four pre-sale consents to sell residential units in uncompleted developments in the second quarter of 2010.
The four pre-sale consents for residential developments involved a total of 2,066 uncompleted units located in various districts of Hong Kong. One development in Stanley, involving 10 units, is estimated to be completed in October 2010. Three developments in Ap Lei Chau, Tai Kok Tsui and West Kowloon Reclamation Area, comprising a total of 2,056 units, are estimated to be completed from March to November 2011. The pre-sale consent issued for the development in West Kowloon Reclamation Area has replaced the one issued for the same development in the first quarter of 2010.
As at the end of June 2010, 14 applications for pre-sale consent for uncompleted residential units and three applications for pre-sale consent for uncompleted commercial developments are being processed.
The 14 applications for pre-sale consent for uncompleted residential units being processed involved a total of 6,904 units. Among them, three developments involving a total of 243 units are estimated to be completed in 2010, seven developments involving a total of 4,824 units are estimated to be completed in 2011, and three developments involving a total of 1,788 units are estimated to be completed in 2012. For the remaining development involving 49 units, the estimated completion date is to be updated by the developer.
In addition, two applications for consent to assign involving a total of 3,048 completed residential units and one application for consent to assign for a completed commercial development are being processed.
Members of the public 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 June 2010, by calling the 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 advertisements, sales brochures 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.
Ends/Wednesday, July 7, 2010
Issued at HKT 17:01
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