Sino Group has stepped up plans to dispose of its investment properties to strengthen its cash flow through the launch for sale of luxury apartments in Argyle Street, Kowloon, for an average of $4,300 per square foot. Sino said units on offer this week included 10 apartments of more than 1,300 sq ft in The Arcadia, which comprises 110 apartments and town houses. This is the latest batch of investment properties on sale by Sino Group, after the recent launch of luxury properties - Hawaii Garden, Rainbow Villas, Silverstrand Lodge and Balmoral Garden - on Clearwater Bay Road, Sai Kung. Agents said the response to its Sai Kung properties was not very encouraging due to expensive asking prices. It is expected Sino Group will soon launch investment properties such as Long Beach Gardens in Castle Park Road to raise cash. Credit Lyonnais Securities Asia recently said Sino Group's listed vehicle, Sino Land, had $2.4 billion in debts due to mature during the next 17 months. The brokerage estimated Sino Land had $10.5 billion in net debt at the company level and carried $6.3 billion in unconsolidated debt via syndicated loans at the associate level, through three projects. They are two phases in the Olympic Station in Tai Kok Tsui and the Siu Sai Wan project. Centaline Property Agency district manager Deniece Lai Ching-wan said Sino Group had sold two apartments each worth more than $5.5 million during the past few days. Ms Lai said the response was not bad in the light of the prevailing market sentiment and deteriorating economy. Agents said the sale did not indicate buyers were returning to the market, with sentiment remaining poor. High-quality properties at bargain prices would stoke interest from end-users, they said.