Hong Kong's two largest developers pulled in more than HK$5 billion from property sales last weekend, a move analysts believe will help them build up their war chests in preparation for a land acquisition spree.

Cheung Kong (Holdings) reaped HK$2bn from the sale of all its 1,068 units at Central Park Towers II in Tin Shui Wai in two days.

Rival Sun Hung Kai Properties kicked off the sale of the Latitude in San Po Kong last Saturday and fetched HK$3bn in revenue after 400 flats were snapped up by buyers by the next day.

South China Morning Post