Sun Hung Kai Properties (SHKP) says it has no intention of lowering the prices of flats at Sham Wan Towers in Ap Lei Chau despite a slow sales response. About 90 of the 1,040 flats in the residential project have been sold in the past three weeks. Transacted prices ranged from $3,500 to $4,500 per square foot - at least 20 per cent more than for second-hand flats in neighbouring South Horizons. Ricacorp Properties director Willy Liu said the project failed to achieve a strong response because the developer had been aggressive when setting prices. SHKP said it would not lower selling prices to boost sales but would halt them after flats in Tower One were sold. Sun Hung Kai Real Estate Agency general manager Eric Chow Kwok-yin said the company would consider relaunching Tower Two flats for sale early next year. He said the company was optimistic about the property market following yesterday's government announcement, which included an extension of the construction timeframe for new flats.