Builders postpone selling of projects

New World Development Co and Sun Hung Kai Properties have postponed the sale of two luxury residential projects.

Analysts suggested the postponement could be because of mounting tension in the Taiwan Strait that dampened buying interest, mainly for luxury properties.

New World said the delay of its Scholastic Garden sale, first set for tomorrow, stemmed from the need to 'make better preparation'.

Sun Hung Kai said it postponed its Royal Palms sale, set for March 23, at the request of potential buyers.

New World said last week it planned to sell 60 units in Scholastic Garden at Mid-Levels tomorrow. Sun Hung Kai said on Tuesday it would sell 50 units at Royal Palms in Yuen Long next week.