The Development Lease Agreement is a crucial document in Hong Kong's property development landscape, used when a property owner grants development rights to a developer while retaining ownership of the land. This agreement type is particularly relevant in Hong Kong's leasehold system, where most land is held under government leases. The document addresses key aspects including development parameters, construction requirements, timelines, regulatory compliance, and financial terms. It must align with Hong Kong's comprehensive regulatory framework, including planning restrictions, building regulations, and environmental requirements. The agreement typically includes detailed specifications for the proposed development, payment structures, and performance obligations, making it essential for major construction and redevelopment projects in Hong Kong's dynamic real estate market.
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1. Parties: Identification of the landlord/lessor and developer/lessee, including full legal names and registration details
2. Background: Context of the development lease, property details, and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Grant of Lease: Terms of the lease grant, including duration and purpose
5. Development Obligations: Developer's obligations regarding the construction and development of the property
6. Development Timeline: Key milestones, completion dates, and construction phases
7. Development Controls: Specifications for permitted development, including GFA, plot ratio, and height restrictions
8. Regulatory Compliance: Requirements for compliance with laws, regulations, and obtaining necessary permits
9. Rent and Premium: Payment terms, including development premium, rent, and other financial obligations
10. Securities and Guarantees: Performance bonds, guarantees, and other security requirements
11. Insurance and Indemnity: Insurance requirements and indemnification provisions
12. Default and Termination: Events of default, remedies, and termination provisions
13. Assignment and Subletting: Restrictions and conditions for transfer of rights
14. Dispute Resolution: Procedures for resolving disputes, including jurisdiction and governing law
15. General Provisions: Standard boilerplate clauses including notices, entire agreement, and amendments
1. Pre-existing Structures: Used when there are existing buildings to be demolished or preserved
2. Green Building Requirements: Include when specific environmental or sustainability standards must be met
3. Public Areas and Facilities: Required when development includes public spaces or community facilities
4. Sales and Marketing: Include when agreement covers pre-sale arrangements or marketing restrictions
5. Government Subsidies: Relevant when development involves government incentives or subsidies
6. Phased Development: Include for large-scale projects developed in phases
7. Heritage Conservation: Required when development involves heritage buildings or sites
8. Affordable Housing Requirements: Include when development must include affordable housing units
1. Property Description: Detailed description of the land parcel, including lot numbers and boundaries
2. Approved Plans: Master layout plans, architectural drawings, and development schemes
3. Development Requirements: Technical specifications, building standards, and material requirements
4. Payment Schedule: Detailed breakdown of payments, premiums, and financial obligations
5. Construction Timeline: Detailed project timeline with milestones and completion dates
6. Planning Permissions: Copies of relevant planning permissions and conditions
7. Technical Specifications: Detailed construction and engineering specifications
8. Form of Guarantees: Templates for required bonds and guarantees
9. Environmental Requirements: Environmental impact assessment and mitigation measures
10. Building Covenant: Specific requirements and restrictions for construction and development
Relevant legal definitions
Agreement
Approvals
Authorized Person
Building Covenant
Building Plans
Certificate of Compliance
Commencement Date
Completion Date
Construction Period
Contract Period
Developer
Development
Development Controls
Development Premium
Development Rights
Environmental Impact Assessment
Events of Default
Force Majeure
Government
Government Lease
Gross Floor Area
Land
Land Grant
Lease
Lessor
Master Layout Plan
Occupation Permit
Permitted Use
Plot Ratio
Plans and Specifications
Planning Permission
Practical Completion
Premium
Project
Property
Regulatory Requirements
Rent
Site
Specifications
Substantial Completion
Technical Requirements
Town Planning Board
Works
Building Authority
Construction Works
Development Parameters
Development Schedule
Environmental Requirements
Material Adverse Change
Performance Bond
Project Manager
Quality Standards
Working Day
Approvals
Authorized Person
Building Covenant
Building Plans
Certificate of Compliance
Commencement Date
Completion Date
Construction Period
Contract Period
Developer
Development
Development Controls
Development Premium
Development Rights
Environmental Impact Assessment
Events of Default
Force Majeure
Government
Government Lease
Gross Floor Area
Land
Land Grant
Lease
Lessor
Master Layout Plan
Occupation Permit
Permitted Use
Plot Ratio
Plans and Specifications
Planning Permission
Practical Completion
Premium
Project
Property
Regulatory Requirements
Rent
Site
Specifications
Substantial Completion
Technical Requirements
Town Planning Board
Works
Building Authority
Construction Works
Development Parameters
Development Schedule
Environmental Requirements
Material Adverse Change
Performance Bond
Project Manager
Quality Standards
Working Day
Clauses
Grant of Lease
Development Rights
Construction Obligations
Development Controls
Planning Compliance
Building Standards
Environmental Compliance
Premium and Rent
Payment Terms
Development Timeline
Construction Schedule
Approvals and Permits
Technical Specifications
Quality Standards
Insurance Requirements
Performance Security
Default and Remedies
Force Majeure
Assignment and Transfer
Regulatory Compliance
Warranties and Representations
Indemnification
Health and Safety
Environmental Protection
Dispute Resolution
Governing Law
Termination
Confidentiality
Notice Requirements
Amendment and Modification
Entire Agreement
Severability
Third Party Rights
Site Access
Utilities and Services
Maintenance Obligations
Progress Reporting
Inspection Rights
Completion Requirements
Defects Liability
Heritage Protection
Public Areas
Development Rights
Construction Obligations
Development Controls
Planning Compliance
Building Standards
Environmental Compliance
Premium and Rent
Payment Terms
Development Timeline
Construction Schedule
Approvals and Permits
Technical Specifications
Quality Standards
Insurance Requirements
Performance Security
Default and Remedies
Force Majeure
Assignment and Transfer
Regulatory Compliance
Warranties and Representations
Indemnification
Health and Safety
Environmental Protection
Dispute Resolution
Governing Law
Termination
Confidentiality
Notice Requirements
Amendment and Modification
Entire Agreement
Severability
Third Party Rights
Site Access
Utilities and Services
Maintenance Obligations
Progress Reporting
Inspection Rights
Completion Requirements
Defects Liability
Heritage Protection
Public Areas
Relevant Industries
Real Estate Development
Construction
Urban Planning
Property Management
Architecture
Engineering
Environmental Services
Financial Services
Legal Services
Infrastructure Development
Relevant Teams
Legal
Real Estate Development
Construction Management
Project Management
Property Management
Environmental Compliance
Finance
Risk Management
Urban Planning
Facilities Management
Relevant Roles
Real Estate Development Director
Property Development Manager
Construction Project Manager
Legal Counsel
Development Surveyor
Planning Officer
Architect
Civil Engineer
Environmental Compliance Officer
Finance Director
Contract Manager
Risk Manager
Property Investment Manager
Urban Planning Director
Development Control Officer
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