XN000022-1997-04-22 — Page 3

- 1 -

Approved pre-sale consent applications in the first quarter of 1997

The Lands Department issued a total of 17 consents to the pre-sale of residential and non-residential units in uncompleted developments between January and March 1997, the Principal Solicitor of the department's Legal Advisory and Conveyancing Office, Mr Tom Berry, said today (Tuesday).

Among these, 11 were for the pre-sale of 8,793 residential units on Hong Kong Island and in Kowloon, Kwai Tsing, Tuen Mun, Tai Po, Tsuen Wan and Yuen Long. The majority of these units are estimated to be completed before March 1998.

The other six applications were for the pre-sale of non-residential units on Hong Kong Island and in Kowloon, Kwai Tsing and Yuen Long.

"At the end of March, a total of 12 applications for pre-sale consent involving 9,253 residential units and five applications in respect of non-residential developments were pending approval," Mr Berry said.

Of the 12 applications, two were Private Sector Participation Scheme projects (with 3,800 units) and one was Hong Kong Housing Society's Flat-for-Sale development (with a total of 648 units). The remaining nine developments totalling 4,805 units were private developments subject to the 1994 measures.

These developments are located in various parts of the territory. The majority are estimated to be completed between late 1997 and mid-1998.

Mr Berry added that two applications had so far been received since the Secretary for Housing's announcement of additional anti-speculation measures on March 26.

The Lands Department has given consent to a total of 34,949 residential units since the introduction of new measures for the pre-sale of residential units in June 1994.

Five Private Sector Participation Scheme projects (totalling 8,150 units), four Sandwich Class Housing developments (totalling 3,602 units) and four Flat-for-Sale Scheme projects (totalling 3,814 units), which are not subject to the new measures, have also been given pre-sale consent since June 1994.

End