BIZCHINA / Biz Media Digest |
Construction: DIY developer revives attempt to build homes(Shanghai Daily)Updated: 2006-12-07 14:08 Shanghai's first individual housing project company announced yesterday that it has begun collecting deposits from potential homebuyers to build apartments themselves, Shanghai Dromya said on its Website yesterday. The company, grouped by homebuyers instead of developers, said members need deposit at least 20,000 yuan (US$2,558) in their account at an appointed bank for 18 months. They then have to send the company a copy of the deposit receipt. When the company has collected five million yuan in deposits, it will begin selecting developers to acquire land and build apartments, local media said. (For more biz stories, please visit Industry Updates) |
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