Big developers go own ways

Wheelock Properties, Sino Group and China Overseas Land & Investment are to separately market their joint-venture luxury development in Ho Man Tin - an huge turnaround from their earlier strategy.

Before the change, Sino Group was responsible for the sale of the development, Regalia, since last August.

Wheelock Properties said the first batch of 45 units would be released at $5,345 per square foot on a first-come-first-serve basis today.

Property agents expect a price war to commence as average asking prices for Sino's units were about $7,600 per sq ft while China Overseas' were $7,200 per sq ft.