Quote:
Originally Posted by giallo
The main reason that there are so many towers being built on spec in Shanghai is because of 2010. In 2010 it will be legal for foreigners to own their own company without a Chinese partner. Most of these towers are foreign owned. There's no way Chinese developers could afford to construct all of these skyscrapers.
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You mean Chinese Mainland companies? You should explore about mega developments being planned in Tianjin, Guangzhou, Shenzhen, Shenyang or Chongqing. So many of them are run by Mainland groups like Shimao, Excellence, Moi, R&F, Yingli and The Regent among others. All of these companies are developing supertalls somewhere in China.
Of course many big projects in China are being developed my non Mainland groups, usually from Hong Kong and Taiwan, and many others by companies owned by ethnic Chinese from Singapore, Philippines, etc. Not too many by Japanese or Western developers though. The thing is that Chinese developers have a lot of money to build huge projects
Anyway, I don't think 2010 is boosting projects in Shanghai. On the contrary, Shanghai has become a rather second tier city about developing projects. Shanghai is getting its third supertall while so many cities in China are planning more than four.