Pre-sale consent issued for five projects
THE Lands Department in November issued pre-sale consents for five residential projects involving 3,174 units which are expected to go on sale in the next few months.
The biggest project is Sui Chong International Resources' Wing Fai Centre development in Fanling, which will have 1,350 units.
The other projects include Nicosia Limited's 1,040-unit South Wave Court in Aberdeen, the Hong Kong Housing Society's 400-unit Bo Shek Mansion in Tsuen Wan, Camus Investment's 198-unit Florence Plaza in Castle Peak Road and Rayhay Company's 186-unit Symphony Garden in Hung Shui Kiu.
Pre-sale consents allow developers to sell unfinished properties.
The Lands Department also issued consents-to-assign to two projects - Prosperous Garden by the Hong Kong Housing Society and the Royal Ascot first phase development by Sun Hung Kai Properties.
Without Government consents-to-assign, buyers cannot re-sell their units before completion.
In October the Lands Department issued pre-sale consents to only two projects - Cheung Kong's 2,864-unit Lynwood Court, the fifth phase development of Kingswood Villas in Tin Shui Wai, and Sun Hung Kai Properties' 548-unit Woodland Crest in Sheung Shui.
There are still a number of residential projects awaiting approval of pre-sale consent applications, including Henderson Land's 616-unit phase five of Sunshine City in Ma On Shan and 424 units at Sun Hung Kai's Palm Springs in Yuen Long.
