A far-reaching redesign can still help owners of the Hunghom Peninsula estate reap a decent profit, say property experts. Fully-fitted kitchens and modern toilets, coupled with windows made of top-quality materials, are expected to be installed in the seven waterfront blocks. 'From kitchens, toilets and windows, a total redesign will upgrade the [former] government housing units,' said Landscope Surveyors managing director Koh Keng-shing. 'I expect they will knock down the existing bedrooms, kitchens and toilets, and upgrade them to the standard comparable to that offered in private housing estates,' Mr Koh said. Sun Hung Kai Properties and NWS Holdings yesterday said they would upgrade the Hunghom project by renovating and improving the facilities, instead of demolishing and rebuilding. 'We have not discussed the renovation plan,' a spokeswoman for NWS Holdings said last night. Mr Koh said the units must be sold at a significant discount to private housing units because the estate's overall design was not as upmarket as a private-sector development. He expected the flats to sell for $4,000-$5,000 per square foot once they had been renovated. This represents a 30 per cent discount on similar private units on the market. Property surveyors say the cost of renovating the 2,470-unit estate is about $800 per sq ft. This would bring the total investment cost of the project to $2,600 per sq ft. In February, the government sold the flats, built under the now-defunct Private Sector Participation Scheme, for $2.77 billion, or $1,800 per sq ft, to a joint venture between Sun Hung Kai Properties and NWS Holdings. Centaline Property Holdings chairman Shih Wing-ching said the developers would use better materials to improve the estate's interior design. 'But I don't think they will resize bedrooms or make a distinct change in the layout of the flats,' Mr Shih said. The estate, with its sea views, could currently fetch $5,000-$6,000 per sq ft. Property agents have predicted that the developers could sell the estate at $8,000 per sq ft after it has been redeveloped.