SHENZHEN plans to build and acquire 890,000 housing units including 350,000 commercial housing units and 540,000 public housing units during the 14th Five-Year Plan period (2021-2025), according to a plan revealed by the city’s housing and construction bureau, Shenzhen Economic Daily reported Saturday.

The city will build and acquire 540,000 public housing units, including 60,000 public rental housing units, 400,000 government-subsidized rental housing units and 80,000 joint ownership homes.

There will be 650,000 housing units available for supply and allocation during the 14th Five-Year Plan period, with 310,000 units of commercial housing and 340,000 units of public housing, according to the plan.

The 340,000 units of public housing for supply and allocation will include 60,000 public rental housing units, 200,000 government-subsidized rental housing units and 80,000 joint ownership homes.

The plan also stipulates that the land supply for residential use must be at least 15 square kilometers, with a target of 17.5 square kilometers.

The plan proposes a series of development strategies, such as improving the housing policy and legislation system, accelerating the development of government-subsidized rental housing, implementing a long-term mechanism for the healthy development of the real estate market, promoting high-quality property services development, and promoting green, low-carbon and livable buildings.

During the 14th Five-Year Plan period, Shenzhen aims to meet the basic housing needs of middle and low-income residents who have gained permanent resident status primarily with public rental housing. The city will focus on the development of government-subsidized rental housing to ease the housing difficulties of newly arrived citizens and young people. (Zhang Yu, Zhang Yingxi)