Shanghai Zendai Buys Land to Build New City

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The economic-hub of South Africa is about to be transformed. An ambitious plan to build an $8.5bn new-city on the eastern outskirts of Johannesburg, was unveiled this week by Hong Kong listed Shanghai Zendai. Shanghai Zendai bought a large parcel of land from JSE listed A-E-C-I in a 100 million dollars deal to build the new city. The proposed new city bulk infrastructure like main road upgrades and other services will be funded by the local government.

 

 

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