Hong Kong-listed Shanghai Zendai is going ahead with its grandiose plans to build a colossal mixed-use city in the sleepy village of Modderfontein northeast of Johannesburg.

Zendai Development SA says its plan to develop a city in the suburb of Modderfontein is on track and that the group is consulting with environmental, community and City of Johannesburg authorities.

Zendai Development South Africa (ZDSA), the local subsidiary of Hong Kong listed Shanghai Zendai, held a series of public information sessions during July 2015 on the master plan for the proposed development of Modderfontein New City. 

Construction has begun on the new R84 billion city in Modderfontein, Gauteng, owned by Hong Kong listed Shanghai Zendai, with development of 300 residential units underway.

The recent acquisition by Shanghai Zendai of 1,600ha of vacant land between OR Tambo International Airport and Sandton to build 'New York' of Africa causes a stir.

Aucor Property will hold its next multiple commercial auction in Johannesburg on July the 16th at 12h00 at the Maslow Hotel in Sandton.

Aggressive business strategy of Shanghai Zendai Property 'has resulted in high execution challenges', says Moody's.

Sale of the Heartland property by AECI to Chinese property developer Shanghai Zendai has been approved by the Competition Commission, but with a condition.

Gauteng premier Nomvula Mokonyane welcomes a multi-billion rand deal with a Chinese firm to turn property in Modderfontein into a business hub.

AECI shares close near record high‚ after announcing it has received a payment guarantee for the sale of land to Shanghai Zendai Property.