Chengtou constructs rental apartments

Shanghai Newspaper_Chengtou builds rental apartments

Shanghai Chengtou Group takes on a new project as they embark on their very own rental apartment brand.

Being the city’s major investor, developer and operator of infrastructure facilities, Shanghai Chengtou Group began construction of the rental units in Yangpu and Minhang districts.

Chengtou has committed to build 10,000 rental units in the 13th Five-Year plan beginning 2016 until 2020. Over 4,000 rental units are located in New Jiangwan Town and Pujiang.

In May 2018, Shanghai Chengtou acquired their first land parcel for rental apartments and secured 16,000 units already surpassing their previous 10,000 unit-target.

The target market of this project are the young professionals working in nearby areas. Almost half of these apartments will be designed in compact layouts with one bedroom. Meanwhile 15 % composed of larger units will fit perfectly for families, probably around 70-90 square meters.

By the end of 2019, 900 of the 4,000 apartments in Bay Valley, adjacent to the Fudan University new campus, will be released to the market.