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Dandong will beef up construction of low-income housing with unprecedented efforts over the next five years, according to the news briefing in the afternoon of April 14 on the city’s credit supply and financing of banking institution in the first quarter of this year. By the end of 2015, Dandong will have an extra 10 million square meters of low-income housing. The city’s poverty-stricken families and middle- and low-income groups will benefit from the project.
The news briefing also mentioned that the city is running short on proper projects to improve the credit supply. However, the low-income housing project over the next five years will be an ideal target for banks to supply wide-range credit service. To date, some provincial banks have started cooperation with Dandong to tap the city’s low-income housing projects.
Under the current plan, the 10 million square meter low-income housing will comprise 5 million square meters in the new town area, 3 million square meters in Zhen’an District, 1 million square meters in Zhenxing District, and 1 million square meters in Yuanbao District. According to the city’s present construction standard for low-income housing (mainly 50-90 square meters each), Dandong will add 110,000-200,000 suites of low-income housing in urban areas over the next five years.
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