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Fox Yi Hu

Henderson Group chairman Lee Shau-kee  says he is willing to bet 100 to 1 that no transaction for apartments at the 39 Conduit Road block was faked.
But records from the Land Registry show that only one flat at the luxury project has so far been sold, despite an earlier claim by Henderson that contracts had been signed for 25 flats. 
'If you guys can find out that we faked the deals or bought the flats ourselves, I can make a bet against you,' the tycoon told  reporters. 'For every HK$10,000 you put down, I'll wager HK$1 million.'
Lee explained that some buyers had asked to delay  payments and therefore the  sale of some flats had yet to be completed. 'They asked  for the transactions  to be delayed. I said, 'no problem'. Delays of two to four months should be okay,' he said.
Sales  at the 46-floor residential building in  Mid-Levels West have been dogged by controversy  since  October, when a five-bedroom duplex sold for a world record price of HK$439 million -  equal to HK$88,000 per square foot.
Henderson Land Development skipped 48 floor numbers at its 39 Conduit Road residential block so it could market the top two floors of the project as the 68th and 88th floors. 
It was then revealed that all 24 apartments purportedly sold - including the record-setting duplex - were bought by companies registered in the British Virgin Islands - all using the same law firm. 
According to Land Registry data, sales contracts worth HK$3.18 billion were signed for 24 apartments in October and November. 
Henderson Land has confirmed that one buyer purchased the record-breaking unit and five others, but would not say whether that buyer also bought the other 18.The identity of the buyer or buyers is not known as the properties were bought using 24 different shell companies registered in the British Virgin Islands, under whose laws the names of company directors need not be disclosed. 
Although the transactions have been registered with the government, questions are being asked about the circumstances of the sales. 
Media reports said Shanxi businesswoman Ding Yuxin recently  bought three units of  the 39 Conduit Road project for HK$350 million.  
Buying by wealthy Hongkongers and mainlanders has pushed up prices at projects such as 39 Conduit Road, The Masterpiece  in Tsim Sha Tsui and Westminster Terrace  in Yau Kom Tau, near Tsuen Wan.
Henderson Land in December denied an allegation by legislator Lee Wing-tat  that the buyer of the world's most expensive duplex at  39 Conduit Road  had acquired other flats in the building at big discounts.



Henderson's Lee  says transactions are genuine