Henderson Land Development aims to raise HK$18 billion from the sale of 1,500 flats this year as it shrugs off gloomy predictions for the property market.

Thomas Lam Tat-man, a deputy general manager of Henderson's sales department, said the plan was to dispose of at least 10 residential projects this year.

'The targeted sales will be better than in 2008,' said Lam, who did not provide last year's figures.

Projects to be sold include the third phase of Beverly Hills in Tai Po and developments at Headland Road and 39 Conduit Road.

The sales strategy was unveiled as the company's chairman, Lee Shau-kee, increased his holding in Henderson to 53.74% from 53.71%.

South China Morning Post