Housing Construction to be Completed in the Next Five Years
Twelve housing projects subsidized by the Shenzhen government have started construction and are expected to be finished between the years 2012 and 2014. The twelve government housing projects can accommodate families in its 23,500 apartments.
The residential communities that will benefit from the housing projects are in Pinghu, Henggang, Baolong, Nanwan, Bantian and Juichong in Longguang. Shiyan in Bao’an district and the Pingshan New Zone. The Shenzhen Zhongha Real Estate Development Co. will be spending 1.1 billion yuan on a housing project with 3,900 public rental apartments in a 70,000 square meter housing project that is scheduled to be done by 2013.
Shenzhen is also starting construction on additional government subsidized apartments within the year, since construction on the 38,000 apartments in the previous project is well on its way. The government hopes to finish 240,000 subsidized apartments in the next five years.
Disadvantaged families that hold Shenzhen permanent residence or hukou will get access to the subsidized housing. Families that are considered sandwich families that can’t afford the housing can still avail of the housing since the government policy still covers them in the housing subsidy system.