Renovation of old village in Shenzhen to make 10 billionaires

Published on October 28, 2009 by connie | This story has been viewed 491 views

Locating at the central area of Futian District in Shenzhen, Gangsha is one of the most representative old villages. In 2007, the reconstruction of this area was formally started and the negotiation on compensation issues is currently drawing to an end. Although disputes are still going on, what can be sure is that this old village reconstruction will make nearly 10 billionaires and over 20 billionaire families.

The compensation plan of the reconstruction of Gangsha village has finally come to its end through several rounds of negotiations. According to the introduction of the developers, the villagers could choose currency compensation as per the new Plan. The residential buildings will be compensated with 12800 Yuan per square meter and the business buildings will be compensated with 23800 Yuan per square meter. The developer in charge of Gangsha reconstruction admitted frankly that this plan would certainly create a batch of multimillionaires and several billionaires.

Relevant person of the developer disclosed that, among all the villagers, one family, owing house properties of more than 6000 square meters, which is the largest, would possess assets of over one hundred millions after the reconstruction. According to such estimate, there would be over 20 billionaire families and nearly 10 individual billionaires.

Shenzhen Post Elaine Contributes to the Story.

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