Henderson Land Development, the developer being investigated by the government over the sales of luxury flats at its 39 Conduit Road development, is set to relaunch the project on the market.
The new sales campaign is expected to be low-key, with a company spokeswoman saying 'the upcoming launch will probably not involve advertisements on television'.
The relaunch comes a month after police raided the offices of Henderson Land over the cancellation of flat sales at 39 Conduit Road. The company stopped marketing of the project after the raid.
Henderson said in October it sold 24 luxury flats, one of them for as much as a record HK$88,000 per sq ft. Eight months later, it said 20 of the sales fell through, sparking accusations of market manipulation, and a government investigation.
The company has denied any wrongdoing but analysts say the saga has tainted the company's public image. Henderson has insisted the transactions were genuine. The sales were to shell companies, which Henderson said was a common practice.
The Commercial Crime Bureau seized documents related to the uncompleted sales at the luxury project in Mid-Levels. It has invited representatives of the developer to help with the investigation.
The flats involved in the investigation are not included in the new sales campaign, which has been heavily marketed to local real estate agents. 'Most big property agencies were invited [to the relaunch]. Nearly 50 staff from our company alone attended the flat viewing,' Louis Ho, a director at Centaline Property Agency, said.