China Economic ReviewBeijing municipality unveiled plans to contain urban sprawl by developing three satellite cities on its eastern edge. In a report to the Beijing People's Congress, Mayor Wang Qishan said the city would spend RMB7.7bn developing infrastructure in rural areas to fold 11 towns into three cities clustered around Tongzhou, Shunyi and Yizhuang as part of […]
China's property prices will rise only 10% in 2005, Xinhua reported, quoting a National Bureau of Statistics official. Jia Hai, deputy director of the bureau's investment department, made the prediction after noting that price gains in the first 11 months of 2004 were 12.5% y/y, 6.7 points higher than the same period a year earlier. […]
Singapore's CapitaLand and Shenzhen International Trust & Investment (Szitic) have joined forces to build and manage six mainland malls, each with a Wal-Mart store serving as an anchor tenant. The alliance results from CapitaLand agreeing to pay Szitic RMB 983.88mn (US$118.53m) for a 51% stake in the shopping centers which are set to open between […]
Breaking ground for a new commercial complex in Guangzhou, Swire Properties Managing Director Keith Kerr hinted that the company could soon be signing new deals for developments in Beijing and Shanghai, and would be looking at other opportunities in second-tier cities on China's coast. Guangzhou's 4m sq ft Taikoo Hui project is the company's first […]
Zhou Ganzhi, a former construction minister, warned against overbuilding Beijing's road network just to handle peak traffic problems for the Olympic Games in cases where such bottlenecks would not recur after the Games were over. Making the comment at the China (Beijing) Olympic Transportation Forum, Zhou said it would be a mistake to plan facilities […]