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Supertalls Discussions of projects under construction between 300-599m/1,000-1,999ft tall.
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Old January 22nd, 2013, 12:53 AM   #221
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Time for the Giants rising up!
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Old January 22nd, 2013, 01:18 AM   #222
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All these new buildings look very well-built and sturdy. Is it because it is situated near an earthquake zone?
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Old January 22nd, 2013, 08:32 AM   #223
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Nice ground shots! From what I can see it looks like a very pedestrian friendly area. Are they also building a subway system for the area?
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Old January 22nd, 2013, 08:45 AM   #224
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Nice ground shots! From what I can see it looks like a very pedestrian friendly area. Are they also building a subway system for the area?
yes they are, they have just refilled parts of the ground with soil after finishing the construction
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Old January 22nd, 2013, 01:57 PM   #225
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I find that last picture is quite artistic. The lone man that walks through a forest of skyscrapers.
Must be a weird feeling to walk through these unfinished towers. Especially with that weather.
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Old March 4th, 2013, 08:59 PM   #226
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60 Minutes has a video on the RE bubble in China, near the end of the video, about 9:45 into it, they discuss a project in Tianjin. From the video they appear to be this project. Can someone confirm?

http://www.cbsnews.com/video/watch/?id=50142079n

And take it for what it's worth, I'm not trying to troll. But I do think this is a valid bit of news to discuss on this forum.

Now I'll dive for cover.
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Old March 4th, 2013, 09:07 PM   #227
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Well, of course this is an unbelievable huge project, but judging a project's success a decade before its completion is a little bit laughable. Nevertheless this is going to be the financial center of complete northern China (more inhabitants than all the U.S.). Besides that, there is not only investment by the Chinese...companies like Rockefeller or BankofAmerica have their stakes in Yujiapu/Xiangluowan.

We had some decades ago a similar discussion about Shanghai's Lujiazui/Pudong..."Why does a dirt-poor country like China need all those skyscrapers?! They're never going to be able to fill them!". Yeah, it took several years to fill them, but now we're talking about vacancy rates way below 10%. And China is just starting to open up its financial sector...up to now it's mostly a private party of Chinese financial firms (with some exceptions like HSBC or Citi).
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Old March 4th, 2013, 09:20 PM   #228
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Valid points cfredo. I just wonder what the economy will be in 5-10 years. Will these towers be finished by then? It looks bleak at the moment. While the Shanghai's and Tianjin may do well initially, if the other cities/ghost towns bring down the market, it could ripple to the stronger ones.

It will be an interesting to watch it play out.
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Old March 4th, 2013, 09:28 PM   #229
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Yeah, in such long-term projects there is of course a lot of uncertainty involved. With rapidly rising wages in China (especially at the coast) it would be way too expensive to start building it in 10 years or so. It's now or never (same applies to the infrastructure investments like the HSR).
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Old March 4th, 2013, 09:29 PM   #230
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Quote:
Originally Posted by spectre000 View Post
60 Minutes has a video on the RE bubble in China, near the end of the video, about 9:45 into it, they discuss a project in Tianjin. From the video they appear to be this project. Can someone confirm?

http://www.cbsnews.com/video/watch/?id=50142079n

And take it for what it's worth, I'm not trying to troll. But I do think this is a valid bit of news to discuss on this forum.

Now I'll dive for cover.
bad journalism at its finest. i like how they say that china has so many "unfinished" projects
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Old March 4th, 2013, 09:34 PM   #231
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bad journalism at its finest. i like how they say that china has so many "unfinished" projects
I'd hardly call it bad journalism. Certainly there is a difference between a project built, under construction, proposed, etc. But I think they're correct when they say many are unfinished.

The question is will they be finished, and will they be financially successful for the developers and investors.
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Old March 5th, 2013, 06:28 AM   #232
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I'd hardly call it bad journalism. Certainly there is a difference between a project built, under construction, proposed, etc. But I think they're correct when they say many are unfinished.

The question is will they be finished, and will they be financially successful for the developers and investors.
That is just bad journalism. Those projects are in progress, in the process of being finished. Of course, any project in progress are not finished yet.

"Unfinished" give people the false impression that it is halted.
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Old March 5th, 2013, 06:50 AM   #233
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very nice.!!
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Old March 5th, 2013, 04:31 PM   #234
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Quote:
Originally Posted by cfredo View Post
Yeah, in such long-term projects there is of course a lot of uncertainty involved. With rapidly rising wages in China (especially at the coast) it would be way too expensive to start building it in 10 years or so. It's now or never (same applies to the infrastructure investments like the HSR).
And land prices. Wages rise, people bid up land, and the cost of aquiring right-of-way goes vertical.
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Old March 5th, 2013, 05:21 PM   #235
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Build it now while it's cheap!!!
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Old March 5th, 2013, 06:20 PM   #236
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It is a bad journalism for this cbs 60min. It is full of bias, exaggeration, misguiding, and of course "china is doomed and collapsing", which is absolute politically correct in western media.

OK this is the same Zhengzhou east new district that this report labeled as "ghost town"










The real ghost towns that I've seen are some neighborhood in Detroit, in Trenton, NJ or LA. Did US media cover that like this?
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Old March 5th, 2013, 06:34 PM   #237
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Exactly!
It's also interesting how reports about the ultimate Chinese "ghost town" Ordos are becoming very rare. What's the reason? Well, it isn't a ghost town anymore...sometimes it just needs some time to fill a new district.

A few days ago someone posted an current report about New South China Mall in Dongguan (world's largest mall, but abandoned) in the economy thread. Those reports about this mall are popping up every few months. Isn't it interesting how they always need to use that same mall for many years to demonstrate how worse the Chinese real estate bubble is? Looks like that they can't find new demonstration material.
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Old March 5th, 2013, 08:38 PM   #238
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Quote:
Originally Posted by cfredo View Post

Exactly!
It's also interesting how reports about the ultimate Chinese "ghost town" Ordos are becoming very rare. What's the reason? Well, it isn't a ghost town anymore...sometimes it just needs some time to fill a new district.

A few days ago someone posted an current report about New South China Mall in Dongguan (world's largest mall, but abandoned) in the economy thread. Those reports about this mall are popping up every few months. Isn't it interesting how they always need to use that same mall for many years to demonstrate how worse the Chinese real estate bubble is? Looks like that they can't find new demonstration material.
It's an 'easy' target for Western media simply because no such large-scale developments have been taking place anywhere in the West (or even Russia) for at least 30-40 years now. China is doing rapid mass urbanization and is not building a block or two in one go but more like an entire city or a large city district. That makes perfect sense given the scale of China and its cities.

When you're building several million sq m of residential and commercial space in one go it will stay empty for a while because it is physically impossible to fill it in an instant. Those who criticize China's 'ghost towns' simply do not understand what urban development system China is undertaking and how it works. That merely shows that they either don't know what they're talking about or do so on purpose hoping that their viewers and listeners will not understand.

I bet there were reports back in the 80's about a 'ghost town' of Shenzhen being constructed near Hong Kong?
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Old March 8th, 2013, 04:09 AM   #239
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Yes, it is exaggeration at its worst. But even the chinese government argees on the fact that property prizes has gone a bit too far. So cooling down the market a bit seems fair enough when it comes to private housing. However adding public housing is a good idea to continue growing urbanization as well as keeping constructionworkers employed.

But I deffinately agree that building now while salaries are still low is the only way to do it. Binhai new area, Qianhai and Heng Sha are also new areas that will accommodate alot of office space and RnD. A sector that does not suffer from oversupply at all.
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Old March 8th, 2013, 12:17 PM   #240
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This shitty 60 minutes piece made the well respected show looks like something coming out of Entertainment Tonight.
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