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Chinese Company Plans $8 bn South African City Development

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AFRICANGLOBE -The 1,600 hectare "Modderfontein New City" will include offices, a light industry park, housing for 100,000 people, schools and entertainment centres and is expected to take at least 15 years to complete. China's Shanghai Zendai Property plans to break ground next year on an $8 billion new city development near South Africa's commercial capital Johannesburg, its chairman said on Wednesday.
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