HKR International plans to sell two new residential projects upon completion instead of offering them for pre-sale, citing unfavourable market sentiment as one of the reasons. General manager Chan Chi-ming said the company was not in a hurry to offload its new projects under current market conditions, adding it had secured most of its profit for this financial year from previous sales. 'We prefer to release the developments after completion which will be more appealing to prospective buyers,' he said. Projects expected to be put on sale this financial year include the 168-unit La Fontaine in Tai Po and 400 units at Discovery Bay phases nine and 10, he said. Mr Chan said La Fontaine would be released in July or August after its completion, with the units attracting home seekers who had successfully secured Government home-starter loans. Mr Chan said the price for the La Fontaine units would be about $4,000 per square foot, with more than half the units priced below $3 million. Units in Discovery Bay phases nine and 10 were expected to be released after completion early next year. HKR's decision to sell flats after completion is unusual as local developers normally prefer selling properties by pre-sale, or before completion, to speed up cash returns. Mr Chan said the company had sufficient cash on hand after raising more than $12 billion from the pre-sale of its Discovery Park phases two and three in Tsuen Wan - a 50-50 joint venture with New World Development. Sales revenues would be equally shared by the company and New World. He said the company would team up with partners to tender for the 75,950 square foot residential Aldrich Bay reclamation site in Shau Kei Wan on May 22. It would also release an industrial building in Cheung Sha Wan for sale or lease and sell a commercial building in North Point this year.