Developer K Wah International Holdings will sell two properties with a combined value of up to $400 million as part of its plan to offload investments to finance expansion plans.
Executive director Lai Ming said the company had been disposing of investment assets since late 1996 in a bid to explore development opportunities in Hong Kong.
The company would review constantly its investment properties and sell them at the right price, he said.
One of the properties to be sold soon is a residential development at 18 Tung Shan Terrace, Happy Valley, scheduled for sale in June.
The second is a shopping arcade at Grandview Garden, To Kwa Wan, scheduled for sale through tender in September.
Alexander Lui Yiu-wah, the youngest son of K Wah International's chairman Lui Che-woo, said the company would raise about $300 million to $400 million from the sale.
