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Investments 'jump' in high-class offices
Source: Xinhua |
January 3, 2009, Saturday
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The Shanghai Municipal Commission of Commerce yesterday reported a "jump" in foreign investments in the city's office buildings in 2008 against a backdrop of a slumping real estate market across China.
The city approved 58 foreign-invested real estate projects in the first 11 months of 2008, involving a total investment of US$3.94 billion, a jump of 66 percent from a year earlier, the commission said in a report.
Nearly half of the investment was in high-class office buildings, the report said.
A senior economic official attributed the booming foreign real estate investment to rising demand for luxury office buildings supported by the continuing arrivals of regional headquarters of international companies.
"The increase of foreign investment in Shanghai's real estate market shows foreign companies are still confident in China's economy," said Liu Jinping, deputy head of a municipal group dealing with foreign investment.
According to data provided by the commission, foreign investors set up 77 regional headquarters, investment firms and research and development centers in the city during the 11 months of 2008, bringing the total number of regional headquarters of international firms to 223.
The official said the government would continue to support foreign investment in high-class office buildings.
The city approved 58 foreign-invested real estate projects in the first 11 months of 2008, involving a total investment of US$3.94 billion, a jump of 66 percent from a year earlier, the commission said in a report.
Nearly half of the investment was in high-class office buildings, the report said.
A senior economic official attributed the booming foreign real estate investment to rising demand for luxury office buildings supported by the continuing arrivals of regional headquarters of international companies.
"The increase of foreign investment in Shanghai's real estate market shows foreign companies are still confident in China's economy," said Liu Jinping, deputy head of a municipal group dealing with foreign investment.
According to data provided by the commission, foreign investors set up 77 regional headquarters, investment firms and research and development centers in the city during the 11 months of 2008, bringing the total number of regional headquarters of international firms to 223.
The official said the government would continue to support foreign investment in high-class office buildings.
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