City to rebuild south Bund
29/5/2003 15:08
Reconstruction of the south Bund region has kicked off as part of the
city's plan to develop the areas on both sides of the Huangpu River.
The
Shanghai Real Estate Group and the Huangpu District government signed an
agreement yesterday for joint first-stage development of the area. Vice Mayor
Yang Xiong attended the signing ceremony.
The south Bund region to be
rebuilt is the key zone in the city's reconstruction plan from the Shiliupu to
the Dongchang areas.
The region, with an area of 5.73 hectares, extends
to Zhongshan Road E2 in the east, Dongmen Road in the south, Renmin Road in the
west and Shanghai Port Hospital in the north.
There are nearly 2,300
households and more than 200 companies and units in the region, with 180,000
square meters of old housing to be demolished.
According to the
blueprint, modern office buildings and tourist facilities will be constructed in
the region.
The region is one of the municipal government's first batch
of plots to attract investors on a trial basis.
The Shanghai Real Estate
Group is expected to complete the initial preparatory work in the region by the
end of the year, including resident relocation and a call for bids on the land.
Wendy Zhang/ Shanghai Daily news
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