BIZCHINA / Biz Media Digest

Construction: Regulations enforced
(Shenzhen Daily)
Updated: 2006-06-21 14:50

In a heavy blow to local real-estate developers, the Shenzhen municipal government has decided to strictly follow the Central Government's new regulations for the property market, which include the imposition of a 70 percent quota for smaller apartments.

The city government publicized its bylaws for the Central Government regulations Tuesday, three weeks after the Central Government issued the new regulations.

According to the Central Government regulations, the number of flats under 90 square meters in a certain area must account for at least 70 percent of the units built in each project. Developers had hoped that Shenzhen, as an affluent city, would raise the ceiling for larger apartments.


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