CHINA Light and Power has cut the selling price of its Kar Wun Court residential development in Tai Kok Tsui to attract buyers. The company will launch the sale of 26 flats, measuring 566 square feet each, on Saturday. The average selling price is around $3,600 to $3,700 per sq ft, representing a drop of 11 to 13 per cent from the last sale in March. Cheung Kong's real estate agency subsidiary acts as sales agent for the release. A residential project at Li Chit Street, Wan Chai, built by New World Development, is also expected to be released for sale later this month. Details of the sale have yet to be finalised but the selling price is estimated at more than $5,000 per sq ft. The project is a 33-storey building, comprising 180 units of about 520 sq ft each
