Government to subsidized low cost housing
Vanke Co. will begin building government subsidized housing in Longhua by the end of the month after winning bids to develop the project.
Considered as the largest real estate developer, this will be the company first low cost housing project, and one of the many government subsidized projects Vanke will develop. Low cost housing was introduced by the government to help low income families to own houses after an increased in property prices . Longhua housing project will cover at least 200,000 square meters, adjacent to upscale housing estates, and will cost lesser than the average commercial housing.
Possible home buyer need not to worry on the projects quality since Vanke considers this as a vital to the development of the Vanke name and brand.