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jiangnan

shanghai, CHINA


Joined August 8th 2009

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About Me
A Malaysian working in China since 1994. Went to Chengdu 94, stay in Tianjin 97, live in Shanghai since 98. Married a beau from Suzhou in 99 and have a girl and a boy.

Currently Director of Operation at bookhotelandtour.com, a internet base hotel booking specializing in 4 & 5 star hotel in Shanghai.

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RMB5 billion worth of condo sold in a single day

August 13th 2009 10:55


A record was set on Aug 8, 2009 by the developer of Shanghai Star River Bay. The project, in Pudong area of Shanghai, attracted record interest and sold 264 luxury condos in a single day.

The condo range from 220 to 598 m2, average selling price is about RMB46,000 per m2. Each unit cost from RMB10 to 35 million. Total sale for the day, a cool RMB 5 billion.

Amid the most severe recession the world has ever faced since the great depression, the stimulus effort and the loose lending in China is pushing the sale as well as prices of real estate to new high.

There are signs government is getting anxious about the rising real estate prices and steps are begin taken to reigning in lending standiard.



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Metro running at 180% capacity

August 9th 2009 23:19
Shanghai Metro during peak hours
Where am I going to stand!


Shanghai has been furiously expanding its Metro's capacity, but the increase in passenger traffic appears to overwhelm the effort.

To cater to increase demand, Shanghai Metro recently announced measure to increase the capacity of line 6 & 8 by 45% and 75% respectively by Apr 2010, in time for the World Expo 1 May 2010 opening.

This involved the addition of 11 trains (44 carriages) for line 6 and 18 trains (126 carriages) for line 8.

In the meantime, pity those Metro passengers. A packed tin of sardine is what comes to mind.

And if you are visiting Shanghai, stay at your hotel during rush hour, it is going to be very crammed out there.
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Work to be stopped at construction sites near the site of Expo 2010

August 8th 2009 23:50
Shanghai Government recently announced that starting Apr 1, 2010, all works of construction in an area about 25 square kilometers adjacent to the site of the World Expo 2010 will be stopped for the duration. Another 45 km2 will have subject to limited hour.

The World Expo 2010 to be hosted in Shanghai next year will run from May 1 to Oct 31, 2010. It is expected to attract some 70 million visitors. Hotel accommodation is expected to be tight and the government is encouraging residence to rent out their spare room to provide temporary accommodation.

In the meantime, some real estate experts in the city are expecting temporary supply shortage for new housing following the work restriction.
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