In Beijing and Shanghai, as in other major cities across the world, land for new development is scarce due to government restrictions and the sheer difficulty involved in getting any existing buildings in decent sites torn down.
So Chinese developers have been looking in a different direction recently: buying older run-down blocks to redesign and renovate, in an effort to gain a foothold in the two giant cities.
But even that process is easier said that done, and examples are rare.
According to…
Source : South China Morning Post
Read more…Chinese developers hunt for older run-down property assets in major cities to redesign and renovate
