70% residential land used for affordable housing
To further regulate its land supply, Beijing will allocate 5,650 hectares for construction land this year, of which 1,650 hectares are reserved for residential land, the Beijing Municipal Land Bureau announced on April 8.
70 percent of the residential land will be used for affordable homes as well as small- and medium-sized home, according to the bureau.
In breakdown, land that goes to the affordable housing projects will be some 800 hectares and commercial homes will take up 850 hectares. Among the latter, the small- and medium-sized residential land comes to some 370 hectares.
In the first quarter of this year, 328 hectares were added for affordable housing projects, which accounts for 41 percent of the annual plan. At the same time, it requires all districts to complete 70 percent of the annual plan during the first half of the year, and those who cannot meet the requirements will be suspended to develop the land.
In addition, the total land available for public management and public services comes to some 1,300 hectares; 100 hectares of land will be used for the construction of facilities for the elderly, 1,200 hectares of land for transportation, 100 hectares of land for water conservancy and water facilities, and 100 hectares of land for special purposes.
Apart from all the above, the Beijing Municipality said it will continue to better its way for land sales and pledged to start building on 160,000 affordable housing units.
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