Construction: Commercial property to peak
(People's Daily Online)
Updated: 2006-09-26 14:16
The development of commercial real estate in China will peak around 2008,
according to a report released by the General Chamber of Commerce on September
23.
The report says the development of commercial real estate in China is
currently in a period of high growth, with an average annual increase in
investment of 28.9 percent and an increase in construction of 28.4 percent for
the last five years.
The area of vacant buildings solely for commercial use reached 3.872 million
square meters in 2005, accounting for 27 percent of the total vacant area of
commercial property. Furthermore, its rate of growth was 7.5 percent higher than
that of commercial residential property. (For more biz stories, please visit Industry Updates)
|
