Medium-size developer Hon Kwok Land Investment said it would not buy any more land until its cash position improved.
Managing director Herman Fung Man-hei said Hon Kwok would not replenish its land bank this year despite the stabilisation of the property sector and resumption of government land sales.
'We would rather focus on selling properties,' he said.
'When we have sufficient cash, we will think of the next step - land acquisition.' Projects to be sold this year include Regent on the Hill in Diamond Hill, which is expected to raise $800 million for the group.
The first 28 flats will be offered at $3,825 per square foot for cash from Sunday.
Registration for those units ended yesterday. Mr Fung did not disclose the number of applications, but said more units would be released on the launch day.
Other projects to be sold include the 72-unit Kent Place in Shamshuipo, the 90-unit Kensington Plaza in Jordan and Kam Fung Court in Tsuen Wan.
