LAI Sun Development has cut the prices of the remaining flats at Blessings Garden in Mid-Levels to about $6,500 per square foot, down about 30 per cent from the previous sale in March last year. The company expects to launch the sale of 110 units, measuring 1,068-1,106 sq ft, at the end of this month. Group vice-president, Eric Fung said the latest sale would include about 40 units left over after the recent defaults by buyers from the last sale. He said Lai Sun had received 20 per cent deposits from those buyers, who paid about $9,500 per sq ft last year. Lai Sun director and senior vice-president, Julius Lau expected encouraging results because most of the units were on higher floors and had harbour views. Mr Lau said discounts on parking spaces, which cost from $500,000, would be offered to the first 50 buyers. To promote sales, the group will provide 10 per cent top-up mortgage finance, and buyers using this facility will enjoy a four per cent price discount. Buyers completing purchases in cash will be given a seven per cent discount, which effectively will reduce the price to about $6,045 per sq ft. In a deferred scheme, buyers can complete payment at the end of this year. Hongkong Bank, Hang Seng Bank, Bank of East Asia, First Pacific Bank and Standard Chartered Bank will provide mortgages. Lai Sun's sales programme this year includes three more residential projects and two commercial-industrial buildings in Hong Kong, and three projects in China. The sale of Lechler Court in Sai Ying Pun is underway. The 92-unit Shining Court in Shun Ning Road will be put on offer next month. Cambridge Place, comprising four 5,000 sq ft detached houses in Cambridge Road, is scheduled for sale in September. Lai Sun will allow buyers to work with the architect on the interior design, and buyers will have naming rights for the property. The other two local projects on sale are Centre 22, an office building in Sung Wong Toi Road, and Centre 600, an industrial property in Cheung Sha Wan. On the mainland, Hong Kong Plaza in Shanghai is expected to be released in July, and Eastern Place and the Tian He Entertainment Plaza in Guangzhou in August and October, respectively.