Lands Department issues 15 pre-sale consents in third quarter of 2017


Hong Kong (HKSAR) -      The Lands Department (LandsD) issued 12 pre-sale consents for residential developments and three pre-sale consents for commercial developments in the third quarter of 2017.

     The 12 pre-sale consents for 11 residential developments (of which one is a phased development) involve a total of 4,770 residential units. Five developments in Kwai Chung, Sham Shui Po, Shau Kei Wan, Tuen Mun and Sha Tin, comprising a total of 516 residential units, are expected to be completed in 2018. Five developments in Tsuen Wan, Tuen Mun, Kai Tak, Sheung Wan and Ho Man Tin and two phases of one development in Tseung Kwan O, comprising a total of 4,254 residential units, are expected to be completed in 2019.

     As at the end of September 2017, 22 applications for pre-sale consent for residential developments and eight applications for pre-sale consent for commercial developments were being processed.

     The 22 applications in respect of residential developments being processed involve a total of 10,093 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
2 2017 204
5 2018 835
9 2019 2,847
4 2020 5,587
2 2021 620
 
     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 September 2017 by visiting the LandsD's website (http://www.landsd.gov.hk/" target="_blank">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.



Published on: 2017-10-09

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