CHEUNG Kong (Holdings) will release its long-awaited Kingswood Villas phase seven development on to the market in the middle of next month. The sale of the housing project in Tin Shui Wai, including about 2,900 flats, will lead other coming residential sales to test home-buyer confidence in the depressed market. Sources close to the developer said promotions would start in the first week of June. A source said prices had been initially set at a range of $2,300 to $2,500 per square foot but the numbers of units to be released had not been finalised. Cheung Kong will provide eight types of furnished units and different preferential payment methods including extra mortgage finance. Buyers who choose furnished apartments are required to pay an extra sum of up to $200 per sq ft. A similar provision was offered in Cheung Kong's Laguna City development in Kwun Tong and Oasis in Ap Lei Chau, which offered furnished units created by designer Kenneth Ko Man-on. The source said the designer for Kingswood Villas would not be Mr Ko but he declined to disclose details. Kingswood Villas is seen as the biggest project among the coming round of residential sales to hit the housing market. Nine more housing developments include the 319-unit La Costa project in Discovery Bay, the 640-unit Parc Royale in Sha Tin and the 213-unit Parc Regal development in Ho Man Tin. Real estate consultants Chesterton Petty director Augustine Wong said if Cheung Kong made a successful launch in the sales of Kingswood Villas apartments through its innovative sales strategy, it might pull the Hong Kong property market out of the doldrums. Cheung Kong has begun an aggressive sales campaign.