Henderson Land Development and Cheung Kong (Holdings) have made a bullish forecast for their property sales for the rest of the year in expectation of a stronger response from buyers. Henderson Land vice-chairman Colin Lam Ko-yin said the company would raise its forecast for sales revenue by 20 per cent to HK$12 billion from its projection of HK$10 billion early this year. The company had revenue of HK$4 billion in the first half. Mr Lam expected the firm to offer properties worth HK$8 billion for sale in the second half. The revised forecast was mainly a result of its bullish expectations for the luxury residential sector, which he believed would benefit Henderson Land's sales of new projects. Mr Lam said most projects for sale later this year were luxury residential, including 50 per cent-owned King's Park Hill in Ho Man Tin and fully owned Casa Marina phase-two development in Tai Po. Henderson Land will announce sales details of the 106-house Casa Marina phase two tomorrow. Analysts estimated King's Park Hill and Casa Marina phase two would generate about HK$2.8 billion in total if all units were sold. Mr Lam expected Henderson Land to generate about HK$500 million if all 288 units at Metropolitan Rise in To Kwa Wan were sold. He said 10 houses at Casa Marina phase one were sold and another 10 were leased. Casa Marina phase one comprises 98 detached houses, each of 3,000 to 4,000 square feet. Henderson Land sold more of its units at Tseung Kwan O, reducing the number left to about 550 from 2,000 early this year. Cheung Kong executive director Justin Chiu said the company's revenue would be boosted by improved sales. He said the company had generated about HK$700 million from the sale of 200 units at Monte Vista in Ma On Shan last month. The remaining 100 Monte Vista units would be offered at higher prices. Other major developments to sell soon include 2,162-unit Laguna Verde phase four and 324-unit Harbourfront Landmark, both in Hunghom. Prudential-Bache International vice-president Raymond Ngai said developers would achieve better sales revenues because only 6,800 units with a total value of HK$23 billion were sold in Hong Kong in the first half. Last year, 22,000 units worth HK$76 billion were sold, he said. This meant developers needed to sell another 15,200 units from now to December to match with the previous year's results. 'It is not an easy task to achieve unless [developers] adopt a low-price strategy,' he said.