Lai Fung Holdings, the mainland property arm of Lai Sun Development, hopes to realise 2.5 billion yuan (about HK$2.34 billion) over the next two years from the sale of two projects in Shanghai.

Chief executive Matthew Lam Kin-hong said a luxury residential project, comprising 1,800 units, had been scheduled for sale by the end of next year. The 160,000 sq metre project has a market value of about 1.5 billion yuan. Lai Fung owns 95 per cent of the project.

A residential-retail project, of which Lai Fung owns 50 per cent, could be worth one billion yuan, Mr Lam said.