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One pre-sale consent issued in May
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     The Lands Department announced today (June 7) that it had issued pre-sale consent for a commercial development in May.

     As at the end of May, 24 applications for pre-sale consent for uncompleted residential units and two applications for pre-sale consent for uncompleted commercial developments were pending approval.

     The 24 applications for pre-sale consent for uncompleted residential units being processed involve a total of 10,354 units. Among them, three developments involving a total of 97 units are estimated to be completed in 2011, while 15 developments involving a total of 6,102 units are estimated to be completed in 2012 and five developments involving a total of 4,106 units are estimated to be completed in 2013. 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 2,784 residential units and one application for consent to assign for 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 past six months, and cases pending approval as at the end of May, by calling the Legal Advisory and Conveyancing Office's hotline (2147 5475) or on the Lands Department website (www.landsd.gov.hk).
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     Intending purchasers are advised to carefully study details of the development and 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 provided in both English and Chinese also contains the main points of the Deed of Mutual Covenant, including information on common parts, undivided shares, terms of appointment of manager, principle/basis of fixing management fee, apportionment of management expenses, management fee deposit, retained areas (if any) and other relevant details, as well as any special features of the Government land grant, which intending purchasers are recommended to read carefully.

Ends/Tuesday, June 7, 2011
Issued at HKT 17:09

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