So, the authorities hope to ease the strain on the capital — to unclog the streets and improve the environment. According to their calculations, ultimately a newly built metropolis will cover a territory three times larger than the area of New York, the USA major city. The new Chinese district will occupy approximately 2370 square kilometers.
At present, the region is half empty. But the announcement made by the Chinese authorities provoked a frenzy among investors, and the hitherto anonymous region near the capital of China now is being attacked by hunters for housing, which they hope to resell later at a large profit. Its property prices have almost doubled in the hours after the announcement.