TIAN An China Investments is ready to invest in domestic housing in Shanghai once the city government relaxes its requirements for foreign investors and offers better incentives.
While the company has not made new commitments this year, any new projects that it will take on are likely to be in Shanghai and for the domestic market.
'We will shift [focus] to Shanghai but I cannot say that all our capital will be shifted from Shenzhen to Shanghai,' said Raymond Wong, executive director.
Although the company's investments in the eastern region of China, which covered Shanghai and the Jiangsu province, had increased in the past two years, the bulk of its land bank - about 90 per cent - remained in southern China.
'But the returns in Shanghai will be good because the market is heading upwards,' said Mr Wong.
Standing in the way of the company was the stringent conditions, including the low plot ratio, requirement by the Shanghai authorities and the low returns of housing projects for the local residents. High demolition and resettlement costs were another disincentive.
