It has been estimated that Shanghai's already large population of 20 million will reach about 50 million by 2020, which is a significant factor in assessing the current investment opportunity in the city.

But other factors also add up to an exciting proposition (for example, Shanghai will cohost the Olympics in 2008 and the World Expo 2010), while the existence of the soon-to-be-completed world's tallest building in the city further underpin the ambitions of the region.

Currently on offer in Shanghai is Times Square, modelled on the more famous New York address. Located in the Pudong Financial District, which is the financial hub of Mainland China, Times Square Shanghai is a development of 170 apartments and duplexes in a gated community with 24 hour security.

Prices start at about 130,000 for a one bed unit.

But what will be of considerable interest to investors is the fact that the entire development comes with a 6% guaranteed rental yield for five years, rising by 0.5% increments each year to 8%.

Times Square is offered to Irish investors by Shanghai Vision, the world's largest company involved in helping foreign people to invest in Shanghai.

"Other markets around the world are investor led, " said Mark Carroll of Shanghai Vision. "But much of the growth within Shanghai is down to the increasing wealth in China. Last year, the developments that we were involved in averaged at between 15% and 18% growth, with some developments significantly outperforming those figures, while this year, conservative estimates put growth at between 13% and 15%."

Pudong, where Times Square is located, is the financial district of Shanghai, but within this, Times Square Shanghai has been designed as the chief retail district in the area. A true 24/7 location, it is home to the world's most famous names in retail, and will be a very attractive location both now and into the future. But as a further incentive, it is generally accepted that the Yuan (currency) is significantly undervalued, which makes now the ideal time for investment in China, before full floatation of the currency on international markets.

Shanghai Vision is situated at 26/27 Upper Pembroke Street, Dublin 2. For further information, contact Mark Carroll on 01 6373995 or by email at: markcarroll@shanghaivision. ie.

Website: www. shanghaivision. com.