The Lands Department issued 11 pre-sale consents for residential developments and two pre-sale consents for commercial developments in the third quarter of 2016.

     The 11 pre-sale consents for residential developments involved a total of 4,001 residential units. One development in Yuen Long, comprising 67 residential units, is expected to be completed later this year. Three developments in Kai Tak, Ma Tau Kok and Tuen Mun, comprising a total of 738 residential units, are expected to be completed in 2017. Six developments in Tuen Mun, Tseung Kwan O, Ma Tau Kok and Ma On Shan, comprising a total of 2,726 residential units, are expected to be completed in 2018. The remaining one development in Shau Kei Wan, comprising 470 residential units, is expected to be completed in 2019.

     The department also issued one consent to assign for residential development in the third quarter of 2016. The consent to assign involved 474 residential units in a development in Ma On Shan.

     As at the end of September 2016, 31 applications for pre-sale consent for residential developments and nine applications for pre-sale consent for commercial developments were being processed.

     The 31 applications in respect of residential developments being processed involved a total of 14,152 residential units. Details are set out as follows:
 

No. of applications	Year in which developments are expected to be completed	No. of residential units involved
1	2016	14
9	2017	1,461
14	2018	9,180
7	2019	3,497

     In addition, two applications for consent to assign involving a total of 1,769 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 September 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, October 6, 2016
Issued at HKT 17:00

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