On June 28, Yichang Real Estate Investment and Development Co., LTD. was founded. It was learnt from the opening ceremony that Yichang will develop near 50,000 sets of various security housings with predictive scale of 5 million square meters and total investment of about 25 billion RMB.

　　It is learnt that the company authorized by  Municipal Government is mainly responsible for fund raising, investment and later operation management of housings in main urban area and new district, and also for relevant infrastructure construction, land development and old city transformation. This year, it is going to invest 2,835 million RMB for the project.

　　According to the planning, after old town transformation, spared lands  are to be used to construct urban green lands, public parking lots and farmers’ markets respectively and the lands that have development value are used for bid, auction and listing, comprehensively balancing the fund of old town transformation. With relevant departments, the company will work out the rebuilding planning of shanty towns of the old city with prominent hidden danger like incomplete infrastructure, dilapidated houses, fire safety problems, etc. At present, Minjia Residence, Minxin Residence and Industry Technical School are all being constructed or in the designing scheme. (Reporter Yang Chunyan, Correspondent Zheng Zhidao)