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Sun Hung Kai Properties

Pre-sale approval applications grow

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Developers are stepping up pressure to put new flats on the market with more applications for pre-sales approval submitted last month.

Five new pre-sale applications involving 4,601 units were received by the Lands Department last month.

This raised the number of units awaiting pre-sale approval to 18,884 from 15,345 at the end of July. There are 18 applications outstanding.

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The Lands Department approved the sale of 1,042 units in two uncompleted projects last month.

The biggest project was the 2,972-unit Aldrich Garden in the Aldrich Bay reclamation area being built by Sun Hung Kai Properties and Swire Properties.

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A Sino Land-led consortium also lodged a pre-sale application for the 1,312-unit Park Avenue at the airport railway's Olympic Station.

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