Vacant for 10 years, demolished in 15 seconds: beachside housing project goes up in smoke in Chinese port
Unfinished residential complexes are demolished almost 10 years after initial developer had pulled the plug on the project
Four beachside blocks of flats in eastern China that lay vacant for more than a decade after the developer ran out of money were demolished on Saturday.
The Weiya Bay project, which consisted of four blocks between 28 and 30 storeys high, had been constructed metres away from the sea in the port of Yantai, Shandong province.
The development had been touted as the closest residential properties to the sea in the country, but construction was halted nine years ago after the South Korean investor behind the project pulled out after losing money in the global financial crisis, National Business Daily reported.
The project was transferred to a mainland developer, but the development remained unfinished due to local doubts about the scheme.
Many people said they would not buy the houses, citing concerns that the foundations might sink and the proximity to the sea could cause problems with damp.
