Chinese property developer Mingfa Group may pull its Hong Kong listing as investor interest in mainland real estate weakens, the South China Morning Post reported. Retail investors have picked up less than half the shares available to them in Mingfa’s initial public offering (IPO), which is intended to raise US$440 million, according to people close to the deal. Rival developer Excellence Real Estate Group announced Tuesday that it had postponed its planned US$1 billion offering due to weak demand. Market watchers said both companies were overvalued in a market that has been hit with a deluge of share offerings by mainland-focused property developers. Fujian developer Yuzhou Properties, Beijing’s Longfor Properties, Shenzhen’s Fantasia Holdings and Guangzhou-based Evergrande Real Estate are all looking to tap the market in the next few weeks. Despite concerns over Evergrande’s land bank, investors are keen on the US$833.5 million deal.