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The Lands Department issued seven pre-sale consents for residential developments and three pre-sale consents for commercial developments in the second quarter of 2016.
The seven pre-sale consents for residential developments involved a total of 3,316 uncompleted residential units. One development in Sai Kung, comprising six residential units, is expected to be completed in 2016. Another development in Yuen Long, comprising 1,128 residential units, is expected to be completed in 2017. The remaining five developments in Cheung Sha Wan, Tseung Kwan O, Fanling, Ma On Shan and Sai Kung comprising a total of 2,182 residential units, are expected to be completed in 2018.
As at the end of June 2016, 32 applications for pre-sale consent for residential developments and eight applications for pre-sale consent for commercial developments were being processed.
The 32 applications in respect of residential developments being processed involved a total of 13,851 residential units. Other than one application (involving 14 residential units) with an estimated development completion time pending update by the developer, further details are set out as follows:
No. of Year in which No. of residential
applications developments are units involved
expected to be
completed
------------ ---------------- ------------------
1 2016 67
10 2017 1,926
18 2018 10,833
2 2019 1,011
In addition, four applications for consent to assign involving a total of 2,260 residential units were being processed.
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 June 2016, by 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, July 7, 2016
Issued at HKT 18:20
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