Plots in golden area beckon investors

The Shanghai Zhabei Foreign Economic Relations Commission said Plots 41 and 42 in Suhewan (or S.H. Bay) area will be the first to enter the "primary market". The two plots have completed the relocation of residents and are ready to be put on the market.

Located near the Xizang Road Bridge, with convenient transportation links and a beautiful river view, the locations of the two blocks make them a piece of treasured land in the Suzhou Creek area.

Insiders have commented optimistically on the potential of the two plots. It is estimated that the average floor price (total price divided by total area) will hit 20,000 to 30,000 yuan/sq m.

These two pieces of land will mainly be used for 5A office buildings, to attract headquarters of domestic and foreign enterprises. Modern services such as high-end restaurants, entertainment zones, shopping malls, and riverside convention and exhibition centers will be built here.

About 123,000 sq m of old and new office buildings will be offered to the public after completion of construction. Restoration work on the century-old warehouses will be carried out to maintain their original appearance.

Regulations regarding the height of the architecture in these two plots have been released, according to which the height of the buildings should be no more than their distance from the riverbank.

For example, if the building is 100 m from the river, then its height should be no more than 100 m. With such a regulation, the layout of the buildings in these two plots is expected to create a beautiful terrace-like skyline.

Shanghai Zhabei Foreign Economic Relations Commission sources said the two plots are to be presented as a composite project. They hope a qualified developer with sufficient financial power from abroad will take charge of the two-plot project.

For more information, please contact:

Shanghai Zhabei Foreign Economic Relations Commission

Project Approval Section

Contact: Ms. Cheng Jinyi, Ms. Du Linqin

Tel: 0086-21-63170728, 0086-21-63805390*6606/6608

Fax: 0086-21-63172603

E-mail: cjyjenny@gmail.com, dlq.ann@gmail.com

Address: Rm.1606, No.46 Moling Rd., Shanghai China

Post code: 200070

(China Daily 05/08/2008 page19)