SHENZHEN planned to build 62,000 public homes in 2011, the city s housing and construction bureau told a conference Wednesday.
Construction of about 10,000 apartments were scheduled to be finished by the end of the year and work on about 30,000 apartments would start this year, the Shenzhen Economic Daily reported Thursday.
The housing provident fund would begin providing housing loans at the end of the year.
Government-subsidized housing would this year occupy an area of about 126 hectares and cost 14.5 billion yuan (US$2.20 billion).
The total construction area of the 62,000 public homes is about 4 million square meters. About 21,000 homes would be low-rental accommodation with 6,000 low-cost apartments. The remaining 35,000 homes would be government-subsidized commercial housing at a lower price.
Li Rongqiang, head of the housing and construction bureau, said Shenzhen planned to build 240,000 public homes between 2011 and 2015. The total cost of building these apartments would be 69 billion yuan.
An estimated 408,000 professionals would be provided with housing subsidies by the government, said Li.
Shenzhen had built 169,000 public homes over the past five years, 21 percent more than originally planned, according to data released at the conference.
(Tina Chen)
