Lands Department issues 15 pre-sale consents in third quarter of 2018


Hong Kong (HKSAR) -      The Lands Department (LandsD) issued 12 pre-sale consents for residential developments and three pre-sale consents for non-residential developments in the third quarter of 2018.

     The 12 pre-sale consents for 11 residential developments (of which four are phased developments) involve a total of 6,979 residential units. Three developments in Lei Yue Mun, Tai Po and Yuen Long and a phase of each of two phased developments in Mid-Levels West and Yuen Long comprising a total of 2,164 residential units, are expected to be completed in 2019. Five developments in West Kowloon, Ma Tau Wai, Yuen Long and Tuen Mun and a phase of each of two phased developments in Mid-Levels West and Tseung Kwan O, comprising a total of 4,815 residential units, are expected to be completed in 2020.

     As at the end of September 2018, 28 applications for pre-sale consent for residential developments and four applications for pre-sale consent for non-residential developments were being processed.

     The 28 applications in respect of residential developments being processed involve a total of 15,341 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
1 2018 5
5 2019 1,760
9 2020 4,569
12 2021 8,935
1 pending update by the vendor 72
 
     In addition, four applications for consent to assign involving a total of 2,380 residential units were being processed.

     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 2018 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: 2018-10-05

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