Shanghai opens up to foreign developers


SHANGHAI'S booming real-estate market is becoming more accessible to foreign players as China’s restrictions on property loans and the introduction of public land tenders in its most affluent city opens up a more level playing field.  

“We now feel that we can compete head to head with local developers in a transparent market,” said Richard David, chief executive officer of First China Property Group, which was the first non-Asian buyer to secure a site in Shanghai in September last year.  

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