New World China Land was likely to invite strategic partners to take part in its proposed flotation next month, aimed at raising between US$500 million and $600 million, according to sources.
New shares of the New World Development (NWD) unit would be sold through a placement that would form part of the flotation, they said.
The plan also called for an initial public offering, they added.
Analysts said the listing was a move by NWD to realise some of its mainland investments accumulated since 1989.
'In the first several years, we did the preparation work,' NWD managing director Henry Cheng Kar-shun said.
'Our investments are now in the developing stage, almost close to the harvest period.' Among projects ready to provide profits are properties in Shenyang, Guangzhou and Wuhan.