K WAH International hopes Hongkong Bank's purchase of an entire Guangzhou office block will boost sales of the Parkview Centre project.
K Wah plans to launch three floors of block B, comprising 27 office units, for internal sale. It signed a purchase agreement with Hongkong Bank for office Block D last week.
The group's general manager for marketing in China, William Wong, said the sale could be opened to the public in October.
An average sale price has been set at between $1,600 and $1,800 per square foot for the internal sale.
Mr Wong said sale prices for offices in Guangzhou had dropped 10 per cent since Beijing introduced anti-speculative measures to cool the real estate market in July 1993.
He said he did not see a further decrease this year and expected prices to find support in the range of $1,600 to 2,000 per sq ft.
