News from the 2nd Directly AffiliatedAdministration Bureau of Urban Planning, Land & Resources Commission ofShenzhen Municipality is that: Nanshui Industrial Village Urban Renewal Projecthas currently been approved in the business conference review of Urban Planning,Land & Resources Commission. According to the plan of this project, NanshuiIndustrial Village will be transformed into high-grade residential businessdistrict.

Nanshui Industrial Village Urban RenewalProject was on the list of “The first plans for urban renewal plan in Shenzhenin 2014”. This project is located at the west end of Industrial 5th road,Shekou Street, against Danan Mountain, next to Mont Orchid Riverlet, Whale HillVilla and Guishan Villa, and overlooks Shenzhen Bay. The demolished area ofthis project is 46550.1 square meters, the developed area is 39567.6 squaremeters, total construction area is228800 square meters, among which 132520square meters for residential building(including 3980 square meters forindemnificatory housing );13930 square meters for commercial building, officesand hotels; 76220 square meters for businessapartment; and 6130 square meters for public supporting facilities.

Groundbreaking ceremony of Nanshui Industrial Village Urban RenewalProject was held in December 2011. During the ceremony, Shenzhen New WorldGroup Co., Ltd together with Shenzhen Nanshui Industrial Corporation expressedthat they will reconstruct Nanshui Industrial Village jointly, and the totalinvestment for this project is more than 3billion. Meanwhile, as thereplacement property in Zhongshan – Fu An Industrial Park was completed and hadbeen handed over, the industrial transformation , which replacing the traditionalmanufacturing with the advanced productive forces, was accomplishedsuccessfully. 
    

It is known that Nanshui Village was built in late QingDynasty, and Nanshui Industrial Village was built in 1979. Back in 2002, subjectto shareholders’ approval, Nanshui Corporation had submitted application withthe urban department to perform urban renewal. It is reported that, New WorldGroup is an enterprise with more than 20years’ experience in real estate developmentthat develops together with the special zone.