1. Policy support: Urumqi Lotus Shengting started construction in April 2023. Urumqi municipal government has issued a series of policies to support the healthy development of the real estate market, such as providing preferential loans, reducing taxes and fees, etc. These policies help to reduce the cost of developers, improve the profitability of the project, and thus promote the start of the project.
2. Market demand: With the economic recovery and population growth in Urumqi, the housing demand in Urumqi will increase, which provides potential market space for the Lotus Shengting Project. The developer saw the profit prospect of the project and decided to start construction.