Shanghai residential plot sells for record US$1.6 billion

[princess_morbucks]

http://www.businesstimes.com.sg/brea...llion-20140128

[SHANGHAI] A parcel of land in a suburb of Shanghai sold for a record 10.1 billion yuan (US$1.67 billion) at auction on Tuesday, the most expensive plot of residential land ever sold in the city, the Xinhua news agency reported.
The winning bid by Chinese developer Franshion Properties Ltd, a subsidiary of Sinochem Group, represented a premium of 115 percent over the initial price of 4.7 billion yuan, underscoring robust demand despite Chinese government policies to cool fast-rising housing prices.
The previous record for residential land in Shanghai was 7.2 billion yuan set in 2009.
The 96,429 square metre (23.8 acres) plot is located in a northern suburb of Shanghai, where average new home prices rose 21.9 per cent in December from the same month the previous year, the strongest growth among 70 major cities in China, the National Bureau of Statistics has reported.

[Arcachon]

cheap

Donghai Bridge (simplified Chinese: 东海大桥; traditional Chinese: 東海大橋; pinyin: Dōnghǎi Dàqiáo; literally "East Sea Big Bridge") is one of the longest cross-sea bridges in the world. It was completed on December 10, 2005. It has a total length of 32.5 kilometres (20.2 mi) and connects mainland Shanghai and the offshore Yangshan deep-water port in China. Most of the bridge is a low-level viaduct. There are also cable-stayed sections to allow for the passage of large ships, largest with span of 420 m. Donghai Bridge is part of the S2 Hulu Expressway.
The bridge has a long and narrow speedway and does not allow vehicles that do not meet the weight requirements.



In 2000 and 2001, the decision was made to commence construction on the first of four phases. The first two phases have nine berths in total along a 3 km (1.9 mi) quayside. The first phase, which opened in 2004, can accommodate 2.2 million containers annually and includes 10 quay cranes. The second phase was opened in December 2006, and comprises 72 hectares (180 acres) with 15 quay cranes. The third phase, opened in stages, was completed in 2010 with seven berths.[citation needed] The fourth phase, expected to open in 2015, will add 4 million TEUs to the port's annual capacity.[2]
The total cost of building the port may reach US$12 billion over 20 years.[3] When complete, the port will have 30 berths capable of handling 15 million TEUs annually.[4]

http://www.youtube.com/watch?v=XBDfFe9E-fI