SHKP looks to reap $1b from peak houses Sun Hung Kai Properties plans to sell seven or eight units in its new 22-house luxury project Severn 8 on the Peak next month. The houses, ranging from 3,300 square feet to 5,100 sq ft, could fetch about $1 billion, with an asking price of about $25,000 to $30,000 per square foot, according to the developer. HK Express takes off Hong Kong Express, Hong Kong's first executive airline, launched its first scheduled service yesterday - to Guangzhou's New Baiyun International Airport. Services to Hangzhou are scheduled to start next month. HK land unveils issues Hong Kong Land Holdings announced S$500 million ($2.3 billion) five and 10-year fixed-rate note issues to be listed in Singapore after a roadshow next week. DBS Bank and HSBC are the joint lead managers. vw to develop hybrids German carmaker Volkswagen has signed a letter of intent with Shanghai Automobile Industry Corp to develop an electric motor and petrol engine hybrid car at their Shanghai joint venture. Product launch is set for 2008.