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China and South Africa sign $7 billion real estate project

by ChemOrbis Editorial Team - content@chemorbis.com
  • 06/04/2015 (11:19)
According to media reports, China and South Africa have signed a $7 billion real estate project to establish a new city on the outskirts of Johannesburg, South Africa. The project was awarded to China’s Shanghai Zendai group.

The completion of the 1,600 hectare project, named Modderfontein New City, is expected to take around 10 to 15 years. Once the project is completed, it will include 35,000 new houses, an education centre, a hospital, a sports stadium and housing for around 100,000 residents.
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