Confidence surge

PUBLISHED : Tuesday, 07 August, 2001, 12:00am
UPDATED : Tuesday, 07 August, 2001, 12:00am

Developers have submitted five pre-sale consent applications for unfinished residential projects.

This lifts the number of private flats pending approval at July 31 to 6,445, up 27 per cent month on month.

Analysts said the figure - up from 5,094 at June 30 - showed renewed confidence from developers as agents reported better sales.

The largest project among the five applications is the 721-unit Sereno Verde phase one in Tai Tong, Yuen Long, developed by New World Development and Henderson Land Development. It is expected to be completed in November next year.

The other applications include a 368-unit tower at a project at Tseung Kwan O Town Centre, jointly developed by Sun Hung Kai Properties, Henderson and Chinachem Group, and USI Holdings' 216-unit Lian Shan in Siu Lam, Tuen Mun.

Asia Standard International applied for approval for its project at Siu Hing Road, Shau Kei Wan, with 155 flats, while Pacific Concord Holding has lodged an application to sell The Blue Yard, with 152 apartments, in Tsuen Wan.

Meanwhile, the Lands Department has granted pre-sale consent to Kerry Properties for Constellation Cove in Tai Po. With 261 apartments and houses it is due to be finished in June next year. Another 25 units at the project are still waiting approval in a separate application.

The number of private units pending sale approval is still well below this year's peak level of 8,423 units in March.