Lands Department issues nine pre-sale consents in first quarter of 2016
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     The Lands Department issued eight pre-sale consents for residential developments and one pre-sale consent for commercial development in the first quarter of 2016.

     The eight pre-sale consents for residential developments involved a total of 5,097 uncompleted residential units. Two developments in Kowloon Tong and Shek Kip Mei, comprising a total of 24 residential units, are expected to be completed in 2016. Three developments in Ho Man Tin, Tseung Kwan O and Yuen Long, comprising a total of 2,580 residential units, are expected to be completed in 2017. Two developments in Ho Man Tin and Yuen Long, comprising a total of 1,473 residential units, are expected to be completed in 2018. The remaining one development in Sha Tin, comprising 1,020 residential units, is expected to be completed in 2019.

     The department also issued one consent to assign for residential development in the first quarter of 2016. The consent to assign involved 1,092 residential units in a development in Ma On Shan.

     As at the end of March 2016, 26 applications for pre-sale consent for residential developments and 10 applications for pre-sale consent for commercial developments were being processed.

     The 26 applications in respect of residential developments being processed involved a total of 9,999 residential units. Details are set out as follows:

               Year in which
               developments
No. of         are expected      No. of residential
applications   to be completed   units involved
------------   ---------------   ------------------
    4               2016            1,201
    7               2017            1,837
    15              2018            6,961

     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 2016, 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/Thursday, April 7, 2016
Issued at HKT 17:00

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