[photopress:rizhao.jpg,full,alignright]300 professors from Peking University have bought specially built villas in Rizhao, a coastal city in Shandong. According to the real estate developer, the housing price for these villas has risen from RMB1,500 per square meter in 1999 to the present RMB4,000 per square meter. But with a discount of RMB1,000 per square meter off the price in the catalog granted to them, Peking University professors have saved about RMB100 million.
Originally the idea was proposed by some teachers from Peking University. They selected Rizhao for its fine environment and asked the Shanhaitian City Construction Group to build some houses for them.
Later, when leaders from Peking University learned of the project, they paid a visit to Rizhao. The visit finally promoted a cooperative project between the Shanhaitian City Construction Group and the Peking University Yanyuan Community Service Center.
Peking University sent teachers to see and select the housing site in Rizhao, and the Shanhaitian City Construction Group took charge of building and managing the houses.
Source: China News