The SOE said it is also engaging in other such projects in Shanghai, with its builders recently kicking off redevelopment of Fangualong Community.

该国有企业表示，它也在上海从事其他此类项目，其建筑商最近开始了Fangualong社区的重新开发。

The investment follows SP's redevelopment of the Chengdu Wuhou International Urban Design Industry Center with an investment of approximately 120 million yuan ($16.5 million), which was completed and became operational last year.

该投资是在SP投资约1.2亿元人民币（1650万美元）重建成都武侯国际城市设计产业中心之后进行的，该中心于去年竣工并投入运营。

Their projects include urban redevelopment of old buildings in Shenzhen, Guangzhou and Foshan.

Urban renewal refers to land redevelopment projects, including planning, developing and industry investment.

"The project is guided by the Los Angeles Grand Avenue Authority, which is made up of the County of Los Angeles, the City of Los Angeles, and the former Community Redevelopment Agency of the City of Los Angeles.

With 2.5 billion dollars' investment on the 25.7-hectare railway land, the Yangon central railway station redevelopment project will signify Myanmar's prospective largest joint venture investment project during the incumbent government.

The narrowing decline is based on a forecast that the People's Bank of China, or PBOC, the central bank, may use pledged supplementary lending (PSL) and other policy tools to provide about 1 trillion yuan ($139.8 billion) in funding support for affordable housing and shantytown redevelopment projects, Zhu said.

Shell said in 2018 that the Penguins redevelopment would see an additional eight wells drilled, which will be associated with the new FPSO vessel.

"The transformation of Sanlitun over the past 12 years mirrors the remarkable transformations seen in Beijing's overall urban redevelopment.

Experts say PSL may offer funding for shantytown, housing projectsPledged supplementary lending or PSL is likely to be used in China to extend funding to affordable housing and shantytown redevelopment projects as the country's policymakers ramp up support for the economy and seek to stabilize the troubled real estate market, experts said.

The "three major projects" refer to the development of affordable housing projects, the redevelopment of shantytowns and the construction of recreational facilities that can be easily converted into emergency structures (like makeshift hospitals during epidemics).

Experts said Pan's remarks signal that PSL will likely be used soon to support affordable housing and shantytown redevelopment projects.

Created in 2014, PSL was initially used to finance shantytown redevelopment, with policy banks pledging bond and credit assets with the PBOC for long-term funding.

Though many people remained in their workplaces during the Spring Festival due to pandemic restrictions, they are keenly following redevelopment at the various scenic spots.

Upgrade of existing properties, city redevelopment, and diversified property development via elderly care, leisure and tourism, and medical care will create several growth opportunities for the real estate sector this year, said Yu.

"The decisive factor is the government's decision on the shantytown redevelopment policy," he added, pointing out that this was expected during this year's session of the National People's Congress in March.

UBS attributed its prediction to slowing contribution from the shanty redevelopment program and weak sentiment among prospective homebuyers.

"In third and fourth-tier cities, demand from property developers has two aspects: the shanty town redevelopment and investment purposes," said Lam, in explaining why he thinks this year will likely see cooling in the real estate market.

Japan is reportedly set to unify the country's disparate real-estate databases on the blockchain to enhance visibility of ownership and transactions, and encourage property sales and community redevelopment.

Initiated in 2014, PSL is a monetary policy tool providing policy banks with low-cost and long-term funding, and was originally designed to support urban redevelopment.

Ming Ming, chief economist at CITIC Securities, said the new PSL loans are likely to mainly fund investments in "three major projects" — construction of affordable housing, building of public infrastructure for both normal and emergency use, and redevelopment of shantytowns in cities.

Zhu Haibin, chief China economist at JPMorgan, said the PBOC may use PSL and other policy tools to provide about 1 trillion yuan in funding to support affordable housing and shantytown redevelopment projects.

There are several local government financing vehicles aligned with this theme that have an integral role to play in urban redevelopment and affordable housing.

The recent policy signal is important, as "shantytown redevelopment is a key element of domestic demand", said Song.