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The Lands Department issued nine consents for the sale of residential units in uncompleted developments between July and September, 2005. The department also issued four consents for the sale of uncompleted commercial developments in this period.
A spokesman for the Lands Department said today (October 6) that the nine consents involve 2,894 residential units located in various districts of Hong Kong. One development in Yuen Long comprising 120 residential units is estimated to be completed in November, 2005. Seven developments with 1,098 residential units are estimated by the developers to be completed in 2006 and one development in Tseung Kwan O comprising 1,676 residential units is to be completed in 2007.
The department issued five consents for the sale of 453 uncompleted residential units in September, 2005. These five developments are located in various districts of Hong Kong. One development in Yuen Long comprising 120 residential units is estimated to be completed in November, 2005. The remaining four developments are estimated by the developers to be completed in 2006. Four consents for the sale of uncompleted commercial developments were issued in September, 2005.
As at the end of September, 2005, eight applications for consent to sell uncompleted residential developments involving 5,619 residential units and six applications for commercial developments were pending approval. Three of the residential developments involving 2,369 residential units are estimated to be completed within 2006 and the remaining five developments involving 3,250 residential units by August, 2007.
There were also four applications pending approval for consent to assign 3,898 residential units and one application for consent to assign a commercial development.
People may obtain up-to-date information on consents to sell residential units in uncompleted developments issued for the last six months and cases pending approval as at the end of September, 2005, by dialling LACO's Hotline No. 2147 5475 or on the Lands Department website at www.info.gov.hk/landsd/.
The names of the developer, its solicitors, authorised person (including the name of the firm), the main superstructure contractor, and, where applicable, the parent company of the developer, the mortgagee bank, the undertaking bank and the financier in respect of individual developments are also available to the public in the form of reports obtainable through the fax-on-demand facilities of the hotline or the Lands Department website. This information is also contained in the sale brochures, printed advertisements and websites of individual developments.
Intending purchasers are advised to study details of the development and the sale procedures, through information available from public advertisement, sales brochure and price lists released from the developer before making a deposit for a purchase. The sales brochure for a development (normally including a Chinese version) also contains the main points of the Deed of Mutual Covenant, including the definition of common areas, terms of appointment of manager, the basis of calculating management fees, amounts of any deposit and other relevant details, which intending purchasers are recommended to read carefully.
Ends/Thursday, October 6, 2005
Issued at HKT 17:01
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