Redevelopment of Dachong Urban Village to Begin Soon
The redevelopment of Dachong urban village is set to start soon once planning is approved. The cost of reconstruction is said to be set at 20 billion yuan and is one of the largest urban village reconstructions in Guangdong and part of the key urban upgrades in Shenzhen.
China Resources Land (Shenzhen) Ltd. will be the in charge of reconstruction of the village that will include a 300 meter tall office building, a five star hotel, a 180,000 square meter shopping mall, two four star hotels and residential apartments. The negotiations for the compensation between the villagers and the project developers is almost complete.
There are 1,000 households and 70,000 non-permanent residents living in the village, and the developer will be supplying new residential apartments to those who owned property in the village. The reconstruction was initiated in 2007 but was suspended for a year when ten families refused to leave when talks on compensation didn’t push through.