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Hotels to be turned into homes
By Even Liang |
April 20, 2009, Monday
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Print Edition
Print Edition
HUANGPU District government plans to transform a number of small and medium-sized hotels into low-cost apartments for financial professionals, the district government said at the weekend.
Several districts including Pudong New Area and Minhang District have already started to build low-cost homes to attract professionals.
But Huangpu, with both high property costs and a great need of professionals, has been struggling to find affordable accommodation due to limited land resources.
"The rent is too high in the area," said Guo Mengran, who joined a securities company in the district last year.
"I have no extra money for training courses but financial specialists need to study and upgrade their skills."
Guo's problem is shared by thousands of young professionals, who are playing an important role in the development of the city into an international financial hub.
"To attract and provide good service to financial professionals is our primary task," said Zhou Wei, the district governor, at an online forum on Saturday.
Many hotels are also willing to accommodate specialists at relatively low prices.
The district government will purchase a large number of hotels with relatively good facilities in the district and turn them into low-cost apartments to lease to financial services professionals, Zhou said.
Financial professionals working and living in the district may also get housing subsidies from the local government and their firms, district officials said.
Several districts including Pudong New Area and Minhang District have already started to build low-cost homes to attract professionals.
But Huangpu, with both high property costs and a great need of professionals, has been struggling to find affordable accommodation due to limited land resources.
"The rent is too high in the area," said Guo Mengran, who joined a securities company in the district last year.
"I have no extra money for training courses but financial specialists need to study and upgrade their skills."
Guo's problem is shared by thousands of young professionals, who are playing an important role in the development of the city into an international financial hub.
"To attract and provide good service to financial professionals is our primary task," said Zhou Wei, the district governor, at an online forum on Saturday.
Many hotels are also willing to accommodate specialists at relatively low prices.
The district government will purchase a large number of hotels with relatively good facilities in the district and turn them into low-cost apartments to lease to financial services professionals, Zhou said.
Financial professionals working and living in the district may also get housing subsidies from the local government and their firms, district officials said.
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