Guangzhou, regarded as the manufacturing hub of China, is currently undergoing a major re-construction with a number of key buildings planned or under construction.
But there is concern that the slight downturn in the Chinese property market and the rising cost of materials and labour could put some of these in jeapordy.
City officials are keen for the ultramodern skyscrapers, new stadiums and a 2,000 foot high television and sightseeing structure that is to be nearly double the height of the Eiffel Tower to be completed in time.
International architecture film Skidmore, Owings & Merrill LLP has already designed several new buildings, including the 71-story Pearl River Tower now under construction. Originally it was estimated it would be complete in 2009 but now that date has moved to 2010.
'Like Beijing, everybody is working to get things done before the games. We all want to do our best,' said Thomas Kerwin, a partner at SOM.
Other high profile buildings include the new opera house designed by London-based Zaha Hadid and the TV and sightseeing tower that will contain retail shops and gardens with teahouses designed by Information Based Architecture of Amsterdam.
But the city, just 100 miles from Hong Kong, has been affected by the global economic slowdown. This year many manufacturers have moved to new, cheaper offices in Vietnam and central China.
The demand for office space is slowing just when new buildings are being completed. Officials are now targeting the financial services and technology sectors.
Guangzhou's office market, one of China's largest outside of Beijing and Shanghai, is already weak. Office rents of $22 a square foot annually are well below the $60 and $70 fetched in Beijing and Shanghai.