L & P International Group is aggressively increasing its presence in China's property market, with projects worth billions of dollars in the pipeline. The private firm has taken an 80 per cent stake in a 2,000-acre housing development in Beijing's Haiding district and is also involved in three projects in Panyu, near Guangzhou. Marketing manager Michael Ng said a local partner owned the remaining 20 per cent of the Beijing project. He said $1.6 billion would be spent building 1,000 houses and other properties on 1,000 acres in the first phase of the development, which is expected to be partly financed through the pre-sale of unfinished houses. Mr Ng said at least 20 per cent of the Beijing project's houses could be sold to foreign buyers. A public sale is planned for May. Mr Ng acknowledged that there was an oversupply of homes in parts of Guangdong, but said demand in such cities as Beijing and Shanghai remained strong, and that quality properties in Guangdong would sell. In Panyu, L & P has a 60 per cent stake in two commercial and residential projects and an industrial development, in which a total of 650 million yuan (about HK$870.35 million) will be invested. Up to 1.9 million square feet of saleable space could be developed in the two commercial and residential projects, while the industrial development has a potential floor area of 661,716 sq ft.