Investors Eyes Yaohai District
OREANDA-NEWS. February 14, 2012. Yaohai District, an old industrial region in Hefei, Anhui's capital city, is regaining its glory, as multiple enterprises show interest in renovating of the area.
Total 10 plots of land in Yaohai District were sold in 2011, 7 of them were auctioned in later half of the year, and housing sales records topped that in the whole city. During a recent auction, 17 plots of land were promoted, attracting investors including China Merchant Property Development Co. (CMPDC), and a US-based enterprise.
Liu Lei, manager with Shanghai Management Headquarter of CMPDC, said when interviewed that the company was very much interested in development opportunities in Yaohai District.
The growing attraction to investors was attributed to efforts Yaohai District has been putting in renovating shanty areas and completing infrastructure construction in transportation networks in past years, as 17 arteries were built, with 55 more to go in 2012.
In 2011, Yaohai District recorded GDP volume of 29 billion yuan, up 18.2 percent from previous year, investment on fixed assets and fiscal revenue were up 22.2 percent and 46.7 percent respectively, topping other 3 districts in Hefei, and attracted investment outside stood at 19.5 billion yuan, an increase of 40 percent.