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"Building on speculation there is not a question," he said, adding that two speculative developments his company built over the last five years at the park, totaling 2.3 million square feet, were fully occupied.
Prices will fall further, especially in the speculative developments built on the outskirts of the major cities.
The riverbanks of the Thames are forested with cranes, show apartments and half-occupied speculative developments that will, after the crash, make great social housing.
As a result, the number of shipments arriving at an American terminal belonging to BG, a big gas firm, fell from 48 in the second quarter of the year to one in the fourth.The prohibitive expense of building liquefaction plants will prevent any completely speculative developments, says Umberto Quadrino, the boss of Edison.
With banks lending more in the first seven months of this year than in all of last year, the central bank, the People's Bank of China, raised reserve requirements in August and several times has urged banks to slow lending to speculative developments.
Previous studies have considered university towns primarily as an example of Chinese local entrepreneurialism, namely large speculative developments initiated by local governments.
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Speculative development at Exit 8A continues, as developers put up buildings to meet the demand for large modern warehouse space.
Another major developer, Hines Interests, based in Houston, did not take the risk of speculative development when it decided to build the 37-story, 700,000-square-foot tower now nearing completion on the corner of Wacker Drive and Lake Street.
8A remains mostly a place for speculative development".
The speculative development is a financial risk, he said.
Management maintain their stance on no further speculative development.
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