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 From Hong Kong's Information Services Department
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May 23, 2003
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Housing
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Housing chief defends sales of unfinished flats

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There is no evidence to suggest that there are shortcomings in the pre-sale system of unfinished flats, the Secretary for Housing, Planning & Development says.

 

Speaking to reporters this afternoon, Michael Suen said the Government attaches great importance to the controversy surrounding the developments of two Tuen Mun residential projects - Villa Pinada and The Aegean.

 

The Government has asked the solicitors of the two projects to provide more information. The Aegean's solicitor has also been asked to freeze the related bank account and temporarily cancel the Certificates of Compliance.

 

According to Mr Suen, the Government is now studying the related documents and will consider taking appropriate actions.

 

If the incident indicates that there is a deficiency in the pre-sale system of unfinished flats, the Government will plug the loopholes.

 

Mr Suen said the Government also pays special attention to the property owners' interest. The Government has contacted the receivers to learn more about the situation and will closely monitor new developments.