SUN Hung Kai Properties has been invited to tender for the development of the proposed Route 3, the company revealed yesterday at its annual general meeting. Chairman Walter Kwok Ping-sheung said the group would be interested in such a project in a consortium of four or five companies. ''This is an important project for the company and the territory as far as its infrastructure development is concerned,'' he said. Mr Kwok said the company was also interested in the Country Park section of Route 3. The expected investment required for the project might be in the region of $7 billion. No further details of the proposals were available, he said. Sales income from July to November had reached some $5 billion, he said. He expected rental income for the year was up strongly and would be some 20 to 25 per cent ahead of last year, at around $3 billion. Mr Kwok said the property market in the year ahead would become more active. ''We have had some consolidation, but I would expect to see further activity next year,'' he said. The group is in the process of renovating the commercial space attached to the World Trade Centre. which was recently acquired by the firm. It anticipates four or five of the floors would be sold during the period. SHK Properties plans to spend some $1.2 billion on Smartone, the telecommunications group, in the next two or three years. The company raised its net profit by 42.9 per cent to $6.69 billion, dividend by 22 per cent to $1.40 a share, and cash bonus payout by 100 per cent to 30 cents a share for the year ended June 30. It also increased its land bank by four million square feet. Earnings per share rose 24 per cent on a fully diluted basis to $3.25. Mr Kwok said at the time of issuing the results: ''The group's long-term objective is to achieve an equal balance between profit from sale of properties and recurrent income, thereby improving the quality of earnings of the group.''