Listing candidate Longfor Properties yesterday kicked off a roadshow in Hong Kong for its luxury Beijing project, hoping to lift its profile with investors before going ahead with its HK$8 billion share sale. The property developer held a presentation for special guests for its Summer Palace Splendor development - a luxury project with 91 houses located adjacent to the historic Summer Palace in the capital. 'We are not merely focused on project marketing but also aim to achieve brand building,' said Shao Mingxiao, the general manager of the company's Beijing business. Mr Shao said Hong Kong was chosen as the first stop because it was an international city, allowing the company to reach potential buyers from other regions. The slump in global markets has hurt investor appetite for initial public offerings, with property players particularly hard hit because of Beijing's moves to rein in growth in the real estate industry. Several property offerings have been shelved recently because of lack of demand. Sales at Summer Palace Splendor would begin in the second half of the year and were scheduled for completion by the end of next year, said Mr Shao. The asking price stands at HK$6,600 to HK$10,000 per square foot compared to the average 2,489 yuan (HK$2,820) per square foot for a luxury villa in Beijing in the first quarter, according to property consultant CB Richard Ellis. Established in 1995 as a regional developer in Chongqing, Longfor has expanded to Chengdu, Xian, Shanghai and Beijing, with a portfolio comprising about 36 projects including apartments, villas, offices and mixed-use developments. In addition to property development, it also provides property management services. The company declined to disclose the size of its land bank, but Kane Chen Kai, the general manager for operations and business development said it should be enough for development for four to five years. He said the year-to-date sales performance was better than the same period of last year but did not provide figures. Last year, Longfor's sales revenue exceeded 10 billion yuan. At the end of last year, it had 3.7 million square metres of projects under development with 1.91 million square metres of projects planned.