Cheung Kong (Holdings) Cheung Kong (Holdings) has enough land to keep it busy for up to six years, the company says. Meanwhile, it continues to be in a buying mood despite dwindling profit margins on new projects. Deputy chairman Victor Li Tzar-kuoi said Cheung Kong and associate Hutchison Whampoa had acquired more than 50 million sq ft of land. According to Mr Li, the company's land bank includes 20 million sqft of projects under development, 11 million sqft of agricultural land, 5million sqft of sites under active planning and 6 million sqft of properties that have been leased out. It also includes 1 million sqft of properties managed by its Singapore-listed Fortune Reit and 13 million sqft of land held by Hutchison Whampoa. Despite slow first-quarter sales, the company says it will sell as much property this year as it has done in the past, adding that a recent spate of interest rate rises was unlikely to dampen buyers' enthusiasm. Cheung Kong said property sales this year would come chiefly from residential units at the Pacifica in Cheung Sha Wan and Carmel Cove, a new block in its Caribbean Coast development in Tung Chung, and a few projects in the mainland. Earlier this month, Cheung Kong and Hutchison Whampoa jointly paid $880 million for a property division of Citic Pacific, which owns 175,367 sqft of residential sites in Yuen Long. In January, Cheung Kong beat 10 other developers to win the right to build the first phase of MTR Corp's Dreamcity residential project in Tseung Kwan O. In October last year, it bought the former quarters for married police officers in Ho Man Tin at a government land auction, paying a record $9.42 billion for the 191,126 sqft site.