HONG Kong property developer, Nam Fong International, has sold more than 80 per cent of the first stage of the Liwan Plaza shopping centre and most of the apartments in the first residential tower in the $5 billion Guangzhou development. Buyers from Hong Kong with family and business connections in Guangzhou snapped up more than $220 million of retail commercial units, representing 80 per cent of the 63,000 square foot of space in the shopping arcade. Faraday Au, a director of marketing agent Kingswick Property Consultants, said about 75 per cent of the 208 residential units in the Lai Wan Tower had been sold for more than $160 million. Mr Au said more than 300 people attended the Hong Kong exhibition of the property on its opening day last Friday. Many agreements of sale were signed immediately. The volume of sales was one of the highest recorded for a new property development in Guangzhou, he said. Liwan Plaza, to be built in one of the old districts of Guangzhou, will comprise a six storey shopping centre and residents' facilities, and will be rounded by eight residential towers. The apartments in the first tower, the 30-floor Lai Wan Tower, ranged in size from 820 to 920 sq ft and prices averaged about 960 sq ft. Residents' facilities would include a health club, pool, tennis court and kindergarten. The project, which will incorporate part of a planned underground rail system for Guangzhou, will be the biggest shopping centre to be built in the southern China industrial city and will add 1,600 apartments to the market. The development, which will be worth an estimated $5 billion on its completion in 1995, is located close to Guangzhou's central business district. The site was donated by the Guangzhou government and resulted in 7,000 residents being relocated.