China’s Ghost Cities and the Property Bubble

Posted on December 13, 2011

  

 

Kangbashi - Roads eerily empty and houses stand vacant

This Video gives us some insight to what our friends in Asia are up to.

Some Data provided by Wikipedia below

History and construction

With an expanding district due to economic exploitation of the local natural resources, but dwindling water supplies due to the continual expansion of the Ordos Desert, Ordos officials were faced with a local infrastructure planning problem. Hence in 2003, Ordos city officials launched the creation of a new 1 million person city district. Located on a 355 square kilometres (137 sq mi) site 25 kilometres (16 mi) from the existing city of Dongsheng, the new city is located next to three existing reservoirs on the site of two former villages.[1]

As of 2010, the current city on a site 35 square kilometres (14 sq mi) of has capacity for at least 300,000 people, created with an estimated investment of around 1.1 trillion yuan ($161 billion).[2]

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