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January 24, 2013

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Progress on drawing board to upgrade housing stock

SHANGHAI plans this year to replace 700,000 square meters of dilapidated housing, relocating 30,000 households to new apartments to improve the living conditions of low-income locals.

"The first-stage communications are vital," said Shen Jun, Shanghai's vice mayor, "It paves the roads for future demolishing and compensation."

Compensation for this year's projects is forecast to cost 90 billion yuan (US$15 billion), said Shen.

Shanghai has made major progress - it was more common, for example, for neighbors to share kitchens and toilets before the late 1990s. In the past five years, the city has seen replacement of more than 3.3 million square meters of shabby houses with about 120,000 households relocated to new apartments.

City leaders estimate there are still 5 million square meters of such houses waiting for redevelopment in the city.


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