27.06.2011 - Chinese developers shun construction of affordable housing
Most Chinese real estate developers kept their distance from repeated appeals by officials to accelerate the country's affordable housing construction that aim to rein in the runaway property market, according to a report released Sunday. Only 30 out of 100 housing developers had participated in the affordable housing construction from 2007 to 2010, underlying property companies' reluctance to undertake a less profitable investment, said a report on Chinese realty firms' social responsibility, which was released by the Ministry of Housing and Urban-Rural Development (MOHURD)...............................................Full Article: Source
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