Frame: CNBC video
Singapore is helping to build a new innovation city in China, writes CNBC. It is planned that it will live about 500 thousand people.
The new settlement is being built in a 45-minute drive from Guangzhou the third largest city of China. Its construction is engaged in a joint enterprise development Committee Guangzhou and Singapore government company Ascendas-Singbridge.
It is reported that construction began five years ago. Now the city is ready one area in which live about 80 thousand workers. It is planned that the city called the City of knowledge of Guangzhou will occupy an area of 50 square miles (of 129.5 square kilometers), roughly comparable to the size of the us Pittsburgh.
Now the governments of both countries encourage scientists and technical workers to move to a new place of residence in the hope that the future city will become a place of development of science and technology, and regional economic center.
Also, the Chinese government is going to provide new residents grants, free office space and legal assistance, including for later release to the stock exchange via the IPO. It is noted that the Singapore experience in managing a compact city will have to place during project implementation.
The last attempt to build a technological city of the future was a project Neom announced by the Saudi authorities in the fall of 2017. It was planned that the construction will cost $ 500 billion and will be completed by 2030. It was also reported that in the future the city will not operate a mandatory for Saudi Arabia Sharia law. However, at the end of 2018, shortly after the murder of journalist Jamal Shokuji in the Saudi Consulate in Istanbul, the crown Prince Muhammad bin Salman said that now for many years, no one will invest in the project.
Video, photo All from Russia.