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Industry: no need to fear "prime land"
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16:28, July 29, 2009

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As long as land for guaranteed housing is ensured and land for general commercial housing is regulated, there is no need to fear "prime land" as far as high-end real estate projects are concerned, said Zhu Zhongyi, vice chairman and secretary-general of China Real Estate Association (CREA) recently.

However he also warned that companies affiliated to state-owned enterprises will have a relative lack of experience if their main business is not real estate. He added that both state-owned and private enterprises are equal in the market.

Zhu believes that many developers are mainly using the "prime land" they have purchased as commercial land for comprehensive business development. Even if "prime land" for residential housing emerges, as long as land for guaranteed housing is ensured and land for general commercial housing is regulated, high-priced land is simply a result of the market, and high-end demand groups should also bear high risks.

By People's Daily Online



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