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Housing breaks ground

CONSTRUCTION began yesterday on New Jiangqiao Town, one of the city's 15 new large residential communities planned by the local government to offer affordable housing to families with mid to low incomes.

The Jiangqiao community, located in suburban Jiading District and covering some 500,000 square meters, will take more than two years to build. Total gross floor area of the development is 670,000 square meters and the project will cost around 3 billion yuan (US$439 million), according to its developer Greenland Group, which plans to finish about 180,000 square meters of housing by the end of 2010.

The city plans to build about 20 million square meters of housing before 2012.


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