City to build more mid and low-end housing
20/8/2003 14:34
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 on May 20.
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.
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