While the proposed 24-hour border opening between Hong Kong and Shenzhen is still under discussion, developers are stepping up efforts to promote their projects in the special economic zone to lure SAR buyers.
At the 2000 Shenzhen Real Estate (Hong Kong) Exhibition held last week at the Hong Kong Convention and Exhibition Centre, organiser Shenzhen Real Estate Exchange Centre attracted 47 developers offering more than 50 developments for sale.
Some developers said the 24-hour border opening proposal would give a definite boost to the Shenzhen property market.
The projects on offer at the show involved a total gross floor area of 2.1 million square metres. Of that, 2.01 million sq metres was residential. The other 90,000 sq metres was retail and office.
Most of the developments at the exhibition were situated along the proposed subway route in Shenzhen.
A spokesman for Shenzhen Urban Planning & Land Administration Bureau said the construction of the Shenzhen subway was scheduled to be completed at the end of 2003.
He said the Lok Ma Chau link with West Rail in Hong Kong would be an encouraging element for residents.