The Lands Department (LandsD) issued five pre-sale consents for residential developments and two pre-sale consents for commercial developments in the first quarter of 2018.

     The five pre-sale consents for five residential developments (of which two are phased developments) involve a total of 2,531 residential units. Two developments in Yuen Long and Tuen Mun, comprising a total of 364 residential units, are expected to be completed in 2018. One development in Beacon Hill, comprising 45 residential units, is expected to be completed in 2019. The remaining two developments (being one phase each of two phased developments) in Tseung Kwan O and Tuen Mun, comprising a total of 2,122 residential units, are expected to be completed in 2020.

     The department also issued one consent to assign for residential development in the first quarter of 2018. The consent to assign involves 683 residential units in a phased development in Yuen Long.

     As at the end of March 2018, 27 applications for pre-sale consent for residential developments and three applications for pre-sale consent for commercial developments were being processed.

     The 27 applications in respect of residential developments being processed involve a total of 14,512 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
6	2018	849
5	2019	2,628
12	2020	8,725
2	2021	1,999
2	pending update by the vendors	311

 
     Members of the public can obtain up-to-date information on consents issued for the past quarter and cases pending approval as at the end of March 2018 by visiting the LandsD'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, and 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/Monday, April 9, 2018
Issued at HKT 17:00

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