Cheung Kong, the Hong Kong-based real estate company controlled by billionaire Li Ka-shing, is capping the number of homes for each buyer at a new residential project as the government tries to curb speculation amid concerns of a property market bubble.

Each buyer, either using a personal name or that of a company, can purchase a maximum of two homes at the Festival City project located in the New Territories district, said William Kwok, director of Cheung Kong’s real estate arm.

“We found that many speculators are very interested in our project, and we want to protect the self-users,” Kwok, referring to those who buy homes for their own use, said in an interview by phone today. “The Hong Kong property situation is very hot, and we don’t want this project to be focused on the speculators.”