Whenever we hear the words, ‘Real estate development’, middle east pops into our head. It is due to the fact that it comes from the humble beginnings of a desert, but became more and more urbanized, which is quite unfathomable. There has been a rapid growth in urbanization in China as well. More people prefer to live in cities than rural areas. There are more than a million people in each of the 100 cities in China. It was not long ago that mega cities like Shanghai and Shenzhen were once the fishing villages. Following the same trend, there are luxurious high-tech urban centers in China called Mega-Ghost cities.
Now, we will see the largest real estate development projects that will transform the landscape of China even more.
Satellite city, or more precisely Nanhui, is located in the Pudong area of Shanghai that will be completed by 2020. With the construction period of over a decade, the city will entail residential complexes, offices, plaza, museum, and eight university campuses. The city, designed by Gerkan, Marg, and partners from Germany, will inhabit 800,000 residents at a cost of $ 4.5 billion.
The Chengdu Creative Centre
The Chengdu Creative Centre is the first phase of Tianfu, which is a city development project. Chengdu Creative Centre will be a hub of business and residential parks located in Chengdu. It will contain offices, retails, and green spaces, spreading over a 2.9 million-square-foot district. The center is set to be designed by Broadway Malyan, a UK-based architecture firm. Tianfu will span a few counties over the area of 609 square miles.
Chengdu Great City
The construction of this 13 million square feet city, almost two miles outside Chengdu, began in 2012. It will be complete by 2020 to accommodate 80,000 people. Aim of this design is to make the city less dependent on cars, as claimed by the architects at Adrian Smith and Gordon Gill Architecture. This city will emit 60% less carbon than the typical cities. The current green locations are preserved during construction while only 25% of the total will be used for residential and office spaces with roads.
Macau New Urban Zone
It is a 250-acre agricultural district in Shanghai. The purpose of this project is to provide space for residence, work, shop, and more importantly, farm food. Some of the crops will be grown indoors, hydroponically.
The architects at Sasaki have designed the project. However, a timeline has been provided. Most likely, it will start in 2018.
Xiongan New Area
Xiongan New Area is a re-development project for Hebei, announced in April 2017. First phase of the city will occupy 40 square miles, which will be extended to 80 square miles in the second phase. When completed, the city will be 3 times the size of Manhattan. The timeline is unannounced, but we do know that the city will encompass houses, offices, universities, and a transportation system.
The Chinese government has declared Xiongan as a “special economic zone,” the hub for future innovations. The city might morph into a mega city due to the expected migration of Beijing city inhabitants. In 15 years time, 4.5 million people will be inhabiting Xiongan.
Yujiapu Financial District
Yujiapu Financial District, also called the”China’s new Manhattan”, with skyscrapers inspired by Lincon Center and Rockefeller Center has cost billions of dollars to the Chinese government. The project started in 2008 on a 1.5 square mile area at $30.4 billion estimated cost. The district located just outside Tianjin, will be complete by 2019 and will have 47 new residential and office towers. According to experts, this half-built city is also listed in the ghost cities.