An estimated HK$5 billion in revenue generated by the sale of 1,500 new flats in less than 72 hours has thrown a multimillion-dollar commission lifeline to thousands of property agents. Cheung Kong (Holdings) attracted HK$2 billion in revenue from the sale of 1,068 units at Central Park Towers II in Tin Shui Wai. The sale opened on Thursday evening and by Friday, 1,020 units were sold. The remaining 48 units were snapped up on Saturday. Sun Hung Kai Properties then announced on Sunday that it had sold 400 units worth HK$3 billion in the Latitude in San Po Kong during the weekend. Cheung Kong and SHKP paid agency commissions ranging between 2 and 3 per cent on every successful deal, which means about 10,000 estate agents who focused on selling the units - about 40 per cent of the 24,000 agents in the market - are now due to share in total commissions of somewhere between HK$100 million and HK$150 million. For Central Park Towers II alone, about 80 per cent of the 1,068 units were handled by three property agencies. Midland Realty said it sold 400 units, while Centaline reported it sold 300 units, and Hong Kong Property Services said it sold 170 units. No breakdown in the sales of the Latitude is yet available. Sammy Po Siu-ming, a director of Midland Realty, said the firm had generated about HK$15 million in commissions from the Central Park Towers II project. 'We had about 300 agents stationed in the sales office when the sale began last Thursday, while another 500 to 600 staff called on clients in different districts,' he said. 'It certainly gave a big boost to our income. Our best performer was able to close more than 10 deals in that short period of time.' With the help of Central Park TowersII, Perry Fong Kai-ming, sales director at Centaline Agency, expects commission for this month will jump three or fourfold from March. 'It should be the highest commission we made in a weekend since the global financial crisis.' As most agents earn a basic salary of just HK$5,000 to HK$7,000 a month, commissions earned from sales of Central Park Towers II units will add a welcome boost to their total incomes. According to market practice, sales agents will be entitled to 30 per cent of the commission paid by the developer for every sale, while the remaining 70 per cent is retained by their employers. Units at Central Park TowersII sold at an average price of HK$1.5 million, which translates into a commission of HK$30,000 for every successful deal made by agents. Through the profit-sharing practice an individual agent will therefore pocket HK$9,000 for each unit they sold. Ringo Choi Wing-tsang, an assistant director at Hong Kong Property (Services), said the firm deployed up to 1,000 agents to focus on the projects. He said the strong sales had sent a positive signal to the market. 'Some potential buyers who failed to buy over the weekend will turn to the secondary market.'