In order to ease living problem and create a good living and working environment for enterprises and their talents, the Hongqiao Central Business District in Shanghai has established over 1,600 apartments this year. [Photo/WeChat account: hongqiaoshangwuqu]

The Hongqiao Central Business District in Shanghai is accelerating the construction of rental housing and the development of the housing rental market, according to the management committee of the Hongqiao CBD.

The first of the talent apartments have started to accept applications from enterprises and the first land in the CBD designated for talent rental housing has also been approved by the Shanghai municipal government, said the head of the management committee.

Core areas of the Hongqiao CBD are mainly occupied by commercial office buildings. While there are housing projects in the core areas, they mainly serve the current housing rental market, making it hard to satisfy the rising residential demands as more and more employees move to the CBD.

In order to ease the problem and create a good living and working environment for enterprises and their talents, the CBD has established over 1,600 apartments this year.

The management committee of the CBD will scrutinize the registration, taxation, and work condition qualifications of the enterprises applying for the apartments.

An area of 10,366 square meters to the south of Beizhai Road and to the east of Shenhong Road, conveniently located for transportation, was recently approved by the Shanghai government to be used for rental housing.

The Hongqiao CBD has shown a good momentum in attracting enterprises and talents through its unique position and increasingly mature investment environment. Some 600,000 to 700,000 talents are expected to live in the 86-square kilometer Hongqiao CBD by the end of 2020.

The CBD will continue to improve its supporting facilities for education, culture, sports, and medical services according to the standards of international first-class business districts. It intends to become a demonstration district for urban development in Shanghai and throughout China.