_Neighbourhood watch: Infrastructure & transport
Infrastructure & Transport:
East Guanggu, Wuhan
East Guanggu refers to the eastern extension of the Guanggu area, a new high-tech hub in Wuhan, central China’s most populous city. This emerging residential area has attracted a number of major Chinese developers, including Greenland Group, Vanke, CSC Land and Landsea Group. Infrastructure is a major driver. Two new metro lines currently under construction will supplement the four existing lines and six bus routes that criss-cross the neighbourhood.
Various healthcare facilities, including three hospitals, are planned along with a number of public projects, all aimed at attracting affluent workers in the technology sector. New residential developments feature a mix of high-rise apartments and villas, with two- or three-bedroom apartments with between 80 and 140 sq m of space commanding 800,000 to 1.4m yuan, while a typical villa (170 to 250 sq m) will fetch around 3m yuan.
David Ji - Knight Frank China
Dubai, South Dubai
Set to become the emirate’s flagship urban project, Dubai South is a neighbourhood to watch. Home to the Expo 2020 site, the area benefits from ongoing government spending on infrastructure projects, notably the expansion of Al Maktoum International Airport and the Dubai Metro’s Red Line (Route 2020) which, once complete, will add to the potential for capital value growth in the location. The first two residential communities, set for completion by June 2019, are expected to feature affordable apartments and townhouses with prices starting from 300,000 UAE dirhams for a studio.
Dana Salbak, Knight Frank Middle East
Properties for sale in DubaiSouth Main, Vancouver
Intersecting Vancouver’s east and west sides, South Main is the gateway to the city’s downtown core, with the trendy Main Street neighbourhood and Olympic Village at either end. With many sites ready for redevelopment, new buildings will offer breathtaking views of both the downtown skyline and the ski mountains of the North Shore. Further expansion of the city’s underground and rail network will provide access along West Broadway across Vancouver and potentially as far as the University of British Columbia. Land banking is already occurring as developers anticipate growth. Currently, C$1m will buy a new two-bedroom, two-bathroom apartment with mountain views, with prices typically ranging from C$800 to C$1,200 per square foot – but these values look set to increase.
Kevin Skipworth, Dexter Associates
Properties for sale in VancouverNorth of Runda, Nairobi
The influential residents’ association in the traditionally high-end suburb of Runda works hard to ensure that new developments are in keeping with the character of the area, which was first developed in the 1970s to house United Nations staff. However, there is a scarcity of plots and development opportunities, leaving buyers with limited options. The new northern bypass has now opened up the area north of Runda, leading to the sudden and rapid expansion of the suburb into the surrounding coffee fields.
The diplomatic community is already leasing accommodation beyond Runda in new developments such as Eden Ville, Four-Ways Junction and Five Star Meadows. These new housing estates and gated compounds are well served by facilities including top schools and sports complexes, and are within easy reach of Two Rivers Mall, East Africa’s biggest shopping centre, due to open early in 2017.
Ben Woodhams, Knight Frank Kenya
Properties for sale in Kenya
Randwick, Sydney
Located in the heart of the Eastern Suburbs, Randwick’s heritage-listed homes are dotted around two hospitals, a university campus and the Royal Randwick Racecourse, while some of Sydney’s finest beaches are within walking distance.
Commuting into the central business district will be made easier with the opening of several stations on a new light railway line, which is scheduled for completion in 2018. A renovated, modern house starts from A$2.3m, while contemporary, higher density projects currently in the pipeline look set to push the median price for an apartment significantly higher than the current A$850,000.