Chinachem Group, the giant private developer run by Nina Wang, hopes to use the sale of Skyview Cliff in Mid-Levels as a showcase to improve its image in the residential development market, estate agents say. They said the housing project was one of Chinachem's best developments and felt that improvements to the building and its below-market pricing would attract home-buyers. The single-block residential project is in Conduit Road. It consists of 96 apartments which range in size from 1,006 square feet to 1,113 sq ft. 'We plan to launch the project on June 8 or June 9; the sale day has not yet been finalised,' a Chinachem spokesman said. He said prices would average $6,500 per sq ft, but those who bought units internally would receive a 3 per cent discount. The spokesman said 23 apartments had been sold via internal deals as of the end of last week. Chinachem has appointed Centaline Property Agencies and Midland Realty as its agents for internal sales of 40 of the apartments, which are priced at an average of $6,299 per sq ft. Louis Ho Siu-tong, senior manager of Centaline's west Mid-Levels district, said the agent had arranged 13 transactions of Skyview Cliff flats up to last Saturday and two further sales on Monday. 'Buyers were attracted by the discounted price, which was 3 to 5 per cent lower than second-hand apartments in the area,' he said. Some buyers had expressed concern about the quality of the building because it was not constructed by a major developer such as Sun Hung Kai Properties, Mr Ho said. He said that, while the building's quality might not be as high as those of other major developers, Chinachem had raised its standards with this development. Reasonable asking prices and a high efficiency ratio of 80 per cent had enticed buyers into paying more than $6 million for an apartment in the project, he said. Some agents said one drawback was that there were no car parking spaces. They said Chinachem might also face strong competition from the substantial supply of Mid-Levels apartments. There is speculation that Chinachem will reserve some parking spaces at its University Heights development on Kotewall Road for Skyview Cliff buyers. In a bid to boost buyer interest further, Chinachem has said it will provide mortgages of up to 90 per cent. Developers are also providing buyers with a 20 per cent top-up mortgage which does not have to be repaid until the fourth year. FACT FILE Development: Skyview Cliff, 49 Conduit Road, Mid-Levels Developer: Chinachem Group Size of flats: 1,006 to 1,113 sq ft Number of flats available: 96 Average price: $6,500 per sq ft Date of official sale: Early June Facilities: Swimming pool Finance arrangements: The developer will provide up to 90 per cent mortgage financing; a 20 per cent top-up loan is available with repayment not required until the fourth year.