As Hong Kong's economy improves and the unemployment rate drops, he has a positive view of the property market and expects property prices to fluctuate by 5 per cent this year.

He said Vanke will have three new developments for sale in Hong Kong this year, including the remnants of VAU Residence in Ho Man Tin, Lian Fong II in Cheung Sha Wan and the Mavo Road project in Tai Po, with a total of about 2,000 units.

Chow Ming Hei pointed out that VAU Residence in Ho Man Tin has applied for an occupation permit and is expected to be handed over in the middle of this year, when the existing building will be opened for public viewing and a new round of sales will be launched.

The remaining 100 units in the development will be put up for sale in the middle of this year. The Cheung Sha Wan Link Fong II will be launched in the middle of this year, with 370 units offering two to three bedrooms, while over 20% of the units in Link Fong I have been sold so far and the remaining units will be put up for sale within the year.

The remaining units will also be launched within the year. The Mavo Road project in Tai Po will be launched at the end of this year or early next year, offering over 1,500 units ranging from small to medium-sized units to three- and four-bedroom units.

The Hin Wo Lane project in Shatin, which was awarded in partnership with Wing Tai last year, is still being designed and is expected to be launched in 2025 or 2026.

He added that the company would continue to look for land reserve opportunities in the market, including government tenders, URA and mergers and acquisitions of old buildings, but it would not seek land at high prices.