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The Lands Department announced today (July 7) that it had issued seven pre-sale consents to sell units in uncompleted developments in the second quarter of 2011, of which six consents were for the sale of residential units and one was for the sale of commercial development.
The six pre-sale consents for residential units involve a total of 4,067 uncompleted units located in various districts of Hong Kong. One development in Fanling comprising 16 units is estimated to be completed in October this year. Four developments in Tseung Kwan O, South West Kowloon, Wong Tai Sin and Wan Chai, comprising a total of 2,883 units, are estimated to be completed from March to December 2012. Another development in Tseung Kwan O comprising 1,168 units is estimated to be completed in February 2013.
As at the end of June, 20 applications for pre-sale consent for uncompleted residential units and two applications for pre-sale consent for uncompleted commercial developments are being processed.
The 20 applications for pre-sale consent for uncompleted residential units being processed involve a total of 8,338 units. Among them, two developments involving a total of 81 units are estimated to be completed this year, 12 developments involving a total of 5,205 units are estimated to be completed in 2012, and five developments involving a total of 3,003 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 last six months, and cases pending approval as at the end of June, 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 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/Thursday, July 7, 2011
Issued at HKT 17:01
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