Building collapse package imminent

By Ni Yinbin | July 11, 2009, Saturday |

Print Edition

COMPENSATION plans for people who bought apartments in the Lotus Riverside complex building that collapsed in Minhang District will be released at a meeting between the developer and the owners this afternoon.

The meeting is being held by the Minhang District government at 3pm in Zhangmu Village.

Two plans, A and B, have been drafted for buyers of the toppled Building 7. Lawyers entrusted by the developer, Shanghai Meidu Real Estate, will negotiate with each of the 42 home-buyers individually to figure out the compensation amount.

"Compensation will be based on every buyer's situation," the Minhang District government said in a press release yesterday.

Talks between the developer and the owners in the other 10 buildings will be held at 3pm tomorrow.

Meanwhile, there are some people keen to buy apartments after the collapse.

"One man offered to buy two apartments at 8,000 yuan (US$1,171) per square meter," an unnamed government official was quoted by yesterday's Xinmin Evening Post as saying.

On June 27, Building 7 of the complex on Luoyang Road toppled, killing a worker.

Metro

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Building collapse package imminent

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