TWO landmark buildings taller than 700 meters may be built in Caiwuwei area in Luohu District. A number of urban villages in the area will be demolished as part of an urban renewal project in the coming years, the Shenzhen Economic Daily reported yesterday.

    Cai Hongliang, chairman of Caiwuwei Industrial Co. Ltd., said the company has set a timetable for the reconstruction of four urban villages in the area. The property developer will finish mapping the existing homes in these villages by Oct. 20, and it will sign compensation and resettlement agreements with homeowners by the end of this year.

    Cai said the construction will start in the second half of next year, and it is expected to be completed within four years, meaning homeowners will be able to move into new homes as early as the end of 2021.

    The Caiwuwei area, neighboring the MixC shopping mall to the east and extending to Hong-bao Road to the west, occupies an area of over 310,000 square meters.

    The urban renewal project in the area has drawn wide attention from the public after it was proposed by the city government in 2013. The planning and design of the project is being led by the Shenzhen-based property developer Kingkey Real Estate.

    The company invited 11 experts specializing in urban planning, architecture design and municipal transport to refine the reconstruction plan March 21. It reached consensus with Caiwuwei Industrial Co. Ltd. on detailed measures for the urban renewal project April 27.

    Chen Min, deputy head of the urban renewal bureau in Luohu District, said the bureau had received Kingkey Real Estate’s planning application in May. He said the company plans to build two skyscrapers taller than 700 meters in the area, which may become new landmarks in Shenzhen. The proposal has been submitted to the city government for approval.

    (Zhang Yang)