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Sep 15, 2021 · A group of high-rise buildings have been sitting unfinished in a Chinese city for seven years. And it took 45 seconds to tear them down. Stunning footage from the demolition last month...
Feb 22, 2023 · During this saga, Chinese authorities ordered the company to demolish a 39-building resort complex, as it struggled to address its (at the time) $310 billion in debt, making it the most...
- Tom Norton
May 21, 2024 · According to Goldman Sachs, the total value of unsold homes, unfinished projects and unused land in China is about 30 trillion yuan ($4.1 trillion).
Oct 31, 2023 · In an unfinished compound outside the city of Xi’an in central China last year, homebuyers clashed with local police as they tried to break down barricades to get into their homes.
Jan 24, 2023 · In China, about 90 percent of new homes are sold before they are built. This presale model allows developers to raise cash quickly, but shifts much of the risk to buyers like Ms. Xu.
Feb 25, 2023 · February 25, 2023 - 12:02PM. It’s dramatic. It’s spectacular. But a viral social media video claiming to show the widespread demolition of failed Chinese building projects is more than what it seems. Chinese property developer Evergrande defaulted on repayments for its $455 billion debt in 2021, triggering fears of a new global financial crisis.
- 1 min
- Jamie Seidel
Feb 9, 2022 · SHANGHAI/GUANGZHOU/TOKYO -- A popping sound, not unlike the finale of a fireworks show, echoed through the area, and a cloud of dust billowed up into the air. In late August 2021, 14 unfinished...
