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The Lands Department issued seven pre-sale consents for residential developments in the second quarter of 2015.
The seven pre-sale consents for residential developments involved a total of 3,233 uncompleted residential units. A development in Cheung Sha on Lantau Island, comprising 28 residential units, is expected to be completed in 2015. Five developments in Ho Man Tin, Tseung Kwan O, Yuen Long and Tung Chung, comprising a total of 2,766 residential units, are expected to be completed in 2016. The remaining development in Mong Kok, comprising 439 residential units, is expected to be completed in 2017.
As at the end of June 2015, 25 applications for pre-sale consent for residential developments and eight 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 11,376 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
3 2015 178
13 2016 5,319
7 2017 4,167
2 2018 1,712
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 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/Tuesday, July 7, 2015
Issued at HKT 17:01
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