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Shanghai Land Co introduces the first state-owned rental housing brand

    Shanghai Land (Group) Co Ltd recently released the first state-owned rental housing brand ¨C Chengfang. The first batch of the 17 rental housing blocks have more than 1 million square meters of construction land, capable of accommodating 20,000 rental apartments when completed.

    The 17 blocks enjoy favorable downtown locations such as Gubei, Hongqiao, Lujiazui, Zhangjiang, and the Shanghai Expo, with 15 of them are located within the radius of 500 meters to bus or metro stations.

    According to the plan, construction of 4,000 apartments will begin in the first six months of 2018, and the rest will start before the end of the year, and all will be finished by 2020. Apart from the new rental housings, Shanghai will also renovate 6,000 existing apartments this year, which are mainly located in Pujiang Town in Minhang District, Jing'an District, and Changning District.

    Shanghai Land Co will provide apartments with different layouts, rents, leases, and service standards. The applicants include individuals and enterprises and state institutions. For individual application, it may adopt a points system.

    The target consumers of the rental housings are young professionals from 25 to 35 years old, and the housing floor space will vary from 40, 60, to 80 square meters. In the future, the Land Co will consider signing medium and long-term leases from three to five years. The rent increase will be moderated so as to help stabilize the whole market in the city.

    The rental housing communities will also serve as incubators. The rental housings will be equipped with residence management, and service centers for individual tenants and companies.

    With the help of Shanghai Municipal Government, Shanghai Land Co is also building a rental housing platform, which will integrate housing resources, and serve as a service provider of operation and management. When completed, it will have incorporated functions such as lease management, smart community management, and smart living, and services such as contract certification, payment information, logistics and delivery.