What we now have is a global economy which demands countries to be competitive; and to be competitive, a country needs to be unique and use its resources effectively. In response to the need, many cities and countries undergo urban regeneration. Let’s take a look at some of the countries where most residential property developments are taking place now.
Many predict that one of the places to be in come the near future is India. To be particular, building your business or being a resident within the Delhi-Mumbai Industrial Corridor is said to be a good investment to make. This location is a development project which would connect India’s capital to its financial hub Mumbai. Estimated funding to complete the project will reach $90 billion.
A state-of-the-art industrial capital will be built spreading across six states. It will consist of 24 industrial regions, 8 smart cities, 2 logistical hubs, 2 mass rapid transit systems, 5 power projects and 2 airports.
The project is expected to be completed in 2019. Initial funding was provided by the Japanese and Indian governments, with each contributing $10 billion each.
United Arab Emirates
Two grand projects are being undertaken within the UAE. Currently on hold is the Dubai International City project, which was greatly affected lingering effects of the financial crisis.
When resumed and finished, this Dubai-themed architectural wonder will consist of business, housing and tourist attractions. It will spread over 800 hectares of land mass and house more than 12000 residents.
There will be residential districts that will cater to citizens of different nationalities. There are, for example, districts for Chinese, Russians, English and Persian people. Obviously, the project is targeted at attracting foreigners. In the Central District, they are now building the Forbidden City, Dragon Mart and the Lake District.
Still in Dubai, we have the Jumeirah Garden City. Another on hold project because of the same reason, the city will house 12 districts and give about 60000 people homes. Houses will have expensive prices, so make sure you start saving money in the bank now in time for the house offers.
We cannot leave out Korea for its ambitious Songdo International Business District project. About $40 billion was spent in building this city from scratch. Here is where you’ll find the Incheon Tower and the great Northeast Asia Trade Tower.
Hospitals, schools and apartments are available. Visit in particular replicas of famous landmarks like Central Park in the Apple City and Venice’s waterways. The project was completed in 2015.
One of the greatest bounce-back urban regeneration stories that we have is happening right in the heart of England. Economic policy changes in the country focused on making London economically competitive. As a result, other cities were neglected.
One of these cities is Manchester. To revive their economic status, the city upgraded its infrastructure, making it easily accessible from different cities in the north. The move attracted support from the Chinese government. China put in £800 to construct airports in the city.
Another strategy that the city did is to fortify its education services. The city is now a hub of research and attracts experts from all corners of the world. Innovative ideas from research are used to continue strengthening the economy.