City to build more mid and low-end housing
21/5/2003 14:26
Shanghai should construct more mid and low-priced housing projects,
focusing on properties reserved for people relocating due to urban construction,
said Shanghai Mayor Han Zheng.
The Shanghai Construction Commission is
enhancing urban construction and boosting the local real estate market in order
to fuel economic growth.
The local government will supply more land to
build mid and low-priced housing projects, ensuring the completion of three
million square meters of mid and low-end residential projects within the
year.
Major state-owned property developers will be encouraged to make
20-30 percent of their projects compact residential ones.
Wendy Zhang/ Shanghai Daily news
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