XN000022-1996-07-24 — Page 3

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The amount of residential mortgage loans associated with co-financing schemes accounted for 2.7% of total mortgage lending of the 33 surveyed institutions at end- June. Of the $15.6 billion new loans approved during June, about 85% were accounted for by properties aged 15 years or below.

Lending for the purchase of properties in China increased by 1.5% to $5.6 billion in June.

Gross loans made in June increased both in number (to 364 from 266) and amount (to $179 million from $162 million). New loans approved in June decreased in number (to 308 from 425) but increased in amount (to $403 million from $256 million).

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Eleven pre-sale consents in 2nd quarter of 1996 approved

The Lands Department has approved a total of 11 applications for consent to pre-sale of residential and non-residential units in uncompleted developments in April to June.

Of the 11 applications, eight are for the pre-sale of a total of 3,080 residential units. These units, located in the Islands, Kowloon, Sai Kung, Tai Po and Yuen Long, were estimated by the developers to be completed between June 1996 and May 1997.

The other three applications are for the pre-sale of non-residential units located in Kowloon and Sha Tin.

In addition, one consent to assign residential units was approved where an Occupation Permit has been issued involving 230 units in Islands district.

A total of nine deeds of mutual covenant and management agreement and three Sub-deeds of mutual covenant for residential or non-residential developments were also approved during the quarter.

At the end of June, a total of 15 applications for pre-sale consent involving 10,211 residential units and seven applications in respect of non-residential developments are pending approval. These developments are located in a variety of districts throughout the territory.