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Nanhui real estate boom coming soon

THE central government's recent approval to merge Nanhui District into Pudong New Area will create opportunities and spur property development in Nanhui.

Nanhui will enjoy Pudong's preferential policies, such as tax breaks to lure professional talent and streamlined investment procedures.

Pudong, a special economic zone established in 1990, will now double in size to 1,210 square kilometers.

"The huge land resources in Nanhui, located to the south of Pudong's financial zone and covering a total area of 677 square kilometers, will definitely bring a whole lot of opportunities for real estate development," said Li Zhanjun, director of Shanghai Pudong Real Estate Economics Research Center.

"More importantly, Pudong's master-planning expertise will help Nanhui improve its planning and construction and finally enhance its overall strength as part of a larger economic powerhouse."

In particular, Lujiazui, Waigaoqiao, Zhangjiang and Jinqiao - the state-owned groups responsible for developing four major zones in Pudong - will benefit most from the merger as they have been running out of land, Li added.

Demand for properties, meanwhile, may also rise following the merger, industry analysts said.

"Foreseeably, some industries in Pudong might be relocated to the larger Nanhui in the future under an integrated scheme and therefore drive more people southward," said Yang Hongxu, deputy director of E-House (China) R&D Institute.

"Such movement will naturally spur demand for property development in those areas."


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