?Lin-gang Special Area, a highly modernized new city [Photo provided to Lin-gang Special Area]

Deals for 246 projects costing around 208 billion yuan ($29.2 billion) have been signed since the establishment of the Lin-gang Special Area, according to the latest data released by CBRE, the world's largest commercial real estate services and investment firm.

A 15-minute economic circle is expected to be formed among the Lin-gang Special Area, Pudong International Airport, and Shanghaidong Railway Station by 2021. This circle is expected to become the leading eastern hub of Yangtze River Delta integration.

Investment, construction, and industrial development are progressing rapidly in Lin-gang. A total of 14 commercial lands, five industrial lands, two scientific research lands, and five residential lands have been listed from January to May this year. The total area of transferred land has exceeded one million square meters, and the total area that has traded hands is 160,000 sq m.

Nearly one million sq m of blocks in the area around Dishui Lake will open to a sealed bid on June 23.

Lin-gang Special Area has also gathered a number of top global enterprises and leading domestic brands, including new energy vehicle firms such as Tesla and SAIC, high-end equipment manufacturing firms such as SANY and ENN Energy, aerospace firms such as COMAC, biomedical firms such as Shanghai Junshi Biosciences, and logistics companies such as GLP and DHL.

The Lin-gang industrial cluster is developing into a collaborative platform for domestic brands, Sino-foreign joint ventures, and top foreign brands.