SHKP stirs up land sales debate Property developers remain divided on whether the government should resume public land sales when a one-year moratorium expires at the end of the year. The split became more pronounced yesterday after Sun Hung Kai Properties vice-chairman and managing director Thomas Kwok Ping-kwong said the group would support a resumption of sales. 'I do not think there will be any big impact on the property market even if the government decides to resume land sales now,' Mr Kwok said. He said domestic and global economies would have greater effect on the property market. His remarks stand in contrast to the view of the Real Estate Developers' Association (Reda), which has urged the government to suspend land sales into next year. According to sources, Reda president Stanley Ho Hung-sun asked for the moratorium to be extended in a meeting with President Hu Jintao in Beijing last week. Mr Ho was part of a delegation of Hong Kong business leaders which met top politicians in the Great Hall of the People. Reda, which includes most of Hong Kong's major developers, yesterday said Mr Ho would write to the chief executive to make the association's views known. In an August 25 meeting, the association said a majority of its members supported a suspension of public land sales for 12 more months in order to bring housing supply and demand into balance as soon as possible. New World Development chairman Cheng Yu-tung and Wharf (Holdings) assistant director Ricky Wong Kwong-yiu support the association's view. The government is expected to announce new measures to prop up the fragile housing market this month. It has estimated 79,000 new units will be completed in the next three to four years. Mr Kwok conceded that most Reda members supported a continuation of the land freeze but said other developers, such as Cheung Kong (Holdings), Hang Lung Group and smaller players, hoped to see sales resume soon.