In China, a construction company created a ghost town by abandoning nearly 800,000 apartments

By TravelWiseFeb 28, 2024 17:34 PMNews
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An abandoned city in China
An abandoned city in China. Source: Screenshot from the video

The Chinese company Greenland Group abandoned an entire city in one of the largest metropolitan areas of Shenyang during the construction phase, due to violations of regulations.

The company constructed several dozen houses and had plans to build a golf course, a conference center, and a hotel. The housing was pre-sold, meaning it was sold before construction was completed. The developer sold about 5% of the apartments to families, but no one has moved in yet, reports The Wall Street Journal.

A substantial amount of money was invested in the construction; for example, $230 million was spent on just one building, the so-called Grandeur Palace. This building, resembling a post-nuclear opera house, was intended to showcase the property to potential buyers.

In total, the company left 800,000 apartments sold in unfinished buildings across China. The liquidation of the holding led to numerous protests by those who had purchased the housing. People took out loans that they still have to repay, realizing that they will have nothing.

As TravelWise reported earlier, a famous blogger showed 10 stunning photos of China that will amaze you with their atmosphere.

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