Hysan Development has had a respectable response to the sale of its Peace Garden residential units in Shanghai. Hysan director Pauline Wong Yu Wah-ling described the launch in Hong Kong of 100 homes as satisfactory. About half the units have been sold. She said the company had released another 30 similarly priced homes to meet demand. The units, offered at an average of about $780 per square foot, are part of the 720-unit phase one development. Mrs Wong said Hysan was confident about Shanghai's property market. But the group planned to stick to its prudent approach to overseas expansion. Hysan is engaged in only two property projects in China, both in Shanghai. The Peace Garden development, which is 45 per cent owned by Hysan, has a gross floor area of 1.87 million sq ft. Phase one contains about 775,000 sq ft. Hysan expects to proceed with the phase two development, but no start date for construction has been finalised. Its other project is the 3.66 million sq ft Grand Gateway project in the city's Xujiahui district, in which Hysan has a 15 per cent interest. Hysan is planning another sales push for the Peace Garden around September.