Hong Kong developers have joined their counterparts on the mainland in launching property sales there following a revival of the market. Sun Hung Kai Properties sold 85 units at its Lake Dragon project in Guangzhou's suburban Huadu district on April 24 and 25, reaping property sales of one billion yuan (HK$1.14 billion). 'We originally planned to start the sale during the Golden Week holiday,' said Echo Huang, the head of Sun Hung Kai's southern China office. 'But since there were too many projects to be launched, we decided to launch it a week ahead in light of positive market sentiment.' The villas range from 348 to 875 square metres with an average price of 20,000 yuan per square metre. Many units sold for more than 10 million yuan, making it the most expensive villa development in the city. Ms Huang said a second release would be announced soon once the company got the pre-sale approval for about 50 houses, which is expected early next month. 'But interested parties will be invited to show their buying interest during the holiday by putting down 300,000 yuan to 500,000 yuan as initial payment,' she said. The first phase of the development will have 243 detached and semi-detached homes ranging from 350 to 875 square metres at the centre of a 27-hole golf course where some of the 2010 Asian Games events will be held. Also in Huadu, Hopewell Holdings is expected to launch the second phase of its Hopewell New Town, a mixed development of high-rise apartments and townhouses. Hutchison Whampoa has started selling homes at the Riverside in Guangzhou's Liwan area at 15,000 to 17,000 yuan per square metre. The sale is expected to continue during the holiday. In Beijing, Cheung Kong (Holdings) is set to sell the second batch of houses at its La Grande Villa development in the Shunyi area this month. The company opened show flats to potential buyers yesterday. The project will be developed in five phases.