Ministry of Land and Resources to Reposses Idle Land
Published:
2010-08-04
The Ministry of Land and Resources has passed on a “black list” of 1,457 plots of land which had been leased to developers but which up until now have not been developed, to the China Banking Regulatory Commission. It is believed that 80% of these plots will be taken back by the Ministry of Land and Resources and the original contract with the developers cancelled. Of the plots included on the black list, 70% are residential developments. Developers have been accused of buying plots but then delaying development and letting the land sit idle as they wait for the real estate market to start booming again.
Source
China Securities Journal
Google Translation
The views posted here belong to the commentor, and are not representative of the Economic Observer |
Interactive
Multimedia
A look at Nanjing local government's controversial urban reconstruction project
E-paper
|
- EEO.COM.CN The Economic Observer Online
- Bldg 7A, Xinghua Dongli, Dongcheng District
- Beijing 100013
- Phone: +86 (10) 6420 9024
- Copyright The Economic Observer Online 2001-2011