"The business zone will have an area for small stores to do wholesale business in iron steel, and apart from that, it will have a display area, an office building, large factories and warehouses," Li revealed, adding that all these stores and buildings in the market have no property ownership certificates.
"The company that owned the market earlier may have had some problems with the local government so none of the stores here has a certificate," Li said.
But he insisted that investors could still sign contracts with the company as it can offer a "special certificate" issued by the local government to prove their right to use the stores.
"The certificate will serve as a pledge that the government will not take back the land after you've paid the rent."
According to the magazine, the market lacks planning permit and pre-sale permit. The land on which it was built is still listed as "fertile farmland" on the government's land planning chart.
"How can the company build such a huge illegal market without any government planning permit and license?" the magazine quoted one of the investors as asking.
In response, an official with the Songjiang Land Planning Department said yesterday that they would look into the case.
The Xinqiao Town government could not be reached for comments yesterday.
Landmark building should respect the public's feeling
Feedback
RSS
