Shanghai's new urban master plan proposes the development of more sustainable and affordable residential properties for the middle class and more optimized use of land, as the supply available for development declines.

The plan said that 3,200 square kilometers of land will be developed by 2040, with more efforts to make full use of underground spaces, reduce industrial land and secure land for public facilities and green belts, according to a circular from Shanghai's municipal government.

Zhuang Shaoqin, head of the Shanghai Municipal Bureau of Land and Resources, said that under the master plan Shanghai will see a housing system that is affordable and sustainable, targeting the middle class and regular apartments.