Dive Summary:
- Shanghai's urban construction commission announced Wednesday that the city will begin subsidizing green property development with the goal building 1 billion square meters of green buildings by 2015.
- Subsidies of up to 6 million yuan ($944,286) will be provided to each construction project with 10 million yuan being made available to each affordable housing project.
- To receive subsidies, developers will have to install energy-efficient features such as solar panels and shading facilities.
From the article:
Shanghai will subsidize green property development projects to minimize pollution and boost energy efficiency across the city, the local urban construction commission announced at a press conference Wednesday.
Property developers can apply for the green subsidy from September 15, said Qin Yun, deputy director of the Shanghai Urban Construction and Communications Commission, which oversees construction and transportation projects in the city. ...
