Lands Department issues eight pre-sale consents in first quarter of 2015
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     The Lands Department issued four pre-sale consents for residential developments and four pre-sale consents for commercial developments in the first quarter of 2015.

     The four pre-sale consents for residential developments involved a total of 999 uncompleted residential units. A development in Mui Wo on Lantau Island, comprising 50 residential units, is expected to be completed in 2015. Two developments in Hung Hom and Tseung Kwan O, comprising a total of 693 residential units, are expected to be completed in 2016. The remaining development in Yau Tong, comprising 256 residential units, is expected to be completed in 2017.

     The department also issued one consent to assign for residential development in the first quarter of 2015.  The consent to assign involved 1,071 residential units in a development in Tai Po.

     As at the end of March 2015, 25 applications for pre-sale consent for residential developments and seven applications for pre-sale consent for commercial developments were being processed.

     The 25 applications in respect of residential developments being processed involved a total of 9,372 residential units. Details are set out as follows:

No. of         Year in which    No. of residential
applications   developments     units involved
               are expected
               to be completed

 4              2015              206
18              2016            8,233
 3              2017              933

     Members of the public can obtain up-to-date information on pre-sale consents for residential developments issued for the past quarter, and cases pending approval as at the end of March 2015, by calling the Legal Advisory and Conveyancing Office's hotline (2147 5475) or visiting the Lands Department's website (www.landsd.gov.hk).

     Intending purchasers are advised to study carefully the 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 purchase.  The sales brochure for a development also contains a summary of the provisions of the Deed of Mutual Covenant, including information on the common parts, the number of undivided shares assigned to each unit, the term of years for which the manager is appointed, the basis on which the management expenses are shared among the owners of the units, the basis on which the management fee deposit is fixed and the retained areas (if any), as well as a summary of the provisions of the government land grant, which intending purchasers are recommended to read carefully.

Ends/Wednesday, April 8, 2015
Issued at HKT 17:00

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