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The Lands Department announced today (January 6) that it had issued six pre-sale consents to sell units in uncompleted developments in the fourth quarter of 2010, of which three consents were for the sale of residential units and three were for the sale of commercial developments.
The three pre-sale consents for residential developments involved a total of 1,555 uncompleted units located in various districts of Hong Kong. One development on Boundary Street comprising 14 units was expected to be completed at the end of last year. Another development in Yuen Long and one in Sha Tin, comprising a total of 1,541 units, are expected to be completed in May and October 2011 respectively.
As at the end of December 2010, 19 applications for pre-sale consent for uncompleted residential units and three applications for pre-sale consent for uncompleted commercial developments are being processed.
The 19 applications for pre-sale consent for uncompleted residential units being processed involved a total of 7,525 units. Among them, five developments involving a total of 1,441 units are expected to be completed in 2011, and 12 developments involving a total of 5,970 units are expected to be completed in 2012. For the remaining two developments involving a total of 114 units, the expected completion dates are to be updated by the developers.
In addition, two applications for consent to assign involving a total of 2,728 residential units and one application for consent to assign for commercial development are being processed.
Members of the public can obtain up-to-date information on pre-sale consents for uncompleted residential developments issued for the last six months, and cases pending approval as at the end of December 2010, by calling the Legal Advisory and Conveyancing Office's hotline (2147 5475) or on the Lands Department website (www.landsd.gov.hk).
Intending purchasers are advised to carefully study details of the development and the sale procedures, through information available from public advertisement, sales brochure and price lists released by the developer, before making a deposit for a purchase. The sales brochure for a development provided in both English and Chinese also contains the main points of the Deed of Mutual Covenant including information on common parts, undivided shares, terms of appointment of manager, principle/basis of fixing management fee, apportionment of management expenses, management fee deposit, retained areas (if any) and other relevant details, as well as any special features of the Government land grant, which intending purchasers are recommended to read carefully.
Ends/Thursday, January 6, 2011
Issued at HKT 17:01
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