Sun Hung Kai Properties (SHKP) has sold more than 60 luxury-serviced apartments at The Royal Court, Mid-Levels, raising more than $700 million. The company originally said it planned to sell only 20 units in the project. Analysts said SHKP was apparently keen to sell more units to generate cash. The developer said it would continue to unload remaining standard units on upper floors today. The Royal Court has 84 standard units measuring 1,102 square feet to 1,428 sq ft and nine duplex units ranging from 2,294 sq ft to 2,846 sq ft. The first five units on sale last week were priced at $8,375 per square foot, or $9.2 million to $12 million. Based on the unit price, it is believed the developer has realised more than $700 million revenue from the sale. SHKP said it would retain the ownership of the nine duplex units in the development for long-term investment purposes. SHKP also announced it would release 160 units at Chelsea Heights in Tuen Mun at $3,892 per square foot for cash payment - 12.5 per cent lower than the previous sale two months ago. The developer first launched Chelsea Heights at $4,450 per square foot last December. SHKP will also offer another 112 units at the Villa Concerto phase of Symphony Bay in Ma On Shan. The average price for extra units in blocks one, two and nine was $5,366 per square foot - up 0.69 per cent from the initial $5,329 per square foot. Meanwhile, Sino Land Co said it sold eight units at its luxury residential development, The Mayfair at 1 May Road, for between $15,250 per square foot to $16,300 per square foot. The group will also release another 92 units this Saturday at its Majestic Park project in To Kwa Wan, bringing the units for sale to 380.