TAI Sang Land Development has forecast a 10 per cent rise in profits for this year, with a third to come from the leasing of its luxury residential project at Tso Woo Hang. Chairman William Ma Ching-wai said about 150,000 sq ft of space would be rented out. He also said 10 flats would be sold for between $4,500 and $5,000 a square foot and the proceeds would be recorded as extraordinary earnings. The company would also ''explore other possibilities to increase takings''. Mr Ma said the company would also convert its industrial buildings and warehouses into commercial or residential buildings.