Connect with us

News

China blows up 15 high-rise building as their contractors run out of money to complete them

Published

on

China blew up 15 high-rises because constructors ran out of money to finish them. ⁣⁣⁣⁣
⁣⁣⁣⁣
This group of high-rise buildings have been sitting unfinished in the southwestern city of Kunming for seven years. ⁣⁣⁣⁣
⁣⁣⁣⁣
And it took 45 seconds to tear them down.⁣⁣⁣⁣
⁣⁣⁣⁣
Stunning footage from the demolition last month showed 14 buildings collapse in controlled demolition. The blast failed to destroy a 15th high-rise, which was torn down three days later, local media reported.⁣⁣⁣⁣
⁣⁣⁣⁣
These partially-built buildings were a side effect of China’s aggressive urban development model that created what critics called “ghost cities” in parts of the country. ⁣⁣⁣⁣
⁣⁣⁣⁣
Local governments had sold land and embarked on massive infrastructure projects to boost economic growth, while developers often took on heavy debt to bet on ever-rising housing prices. ⁣⁣⁣⁣
⁣⁣⁣⁣
Some of the vacant neighbourhoods filled up later on, but in some cases, the newly-built, dazzling urban spaces struggled to find occupants or even funding to finish construction projects.⁣⁣⁣⁣
⁣⁣⁣⁣
Construction of the Kunming complex, named Sunshine City II, began in 2011. The developer soon ran out of money and was acquired by a new company. Work on the residential project stopped in 2013.⁣⁣⁣⁣
⁣⁣⁣⁣
The high-rises had been sitting idle since then. In November 2020, another company acquired the housing project’s developer along with its $3.6 million debt. ⁣⁣⁣⁣
⁣⁣⁣⁣
Citing quality defects of the unfinished buildings, the developer applied to have them demolished to make space for new, lower-rise apartment buildings.⁣⁣⁣⁣
⁣⁣⁣⁣
The demolition on August 27 required 4.6 metric tons of explosives, installed at some 85,000 detonation points on the buildings, Kunming Daily reported. More than 5,300 residents had to be evacuated for the work, and each household received about $23 in compensation, the report said.⁣⁣⁣⁣
⁣⁣⁣⁣
Yang Yang, an assistant professor of real estate at the Chinese University of Hong Kong, said Chinese developers tended to sell apartments years before construction finished, and use the pre-sale revenues to fund the construction.⁣⁣⁣⁣

 

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

News

Cholera outbreak in Cross River Community claims 51 lives

Published

on

The death toll from the Cholera outbreak in Ekureku, Abi Local Government Area, Cross River State, has risen from 20 on Saturday to 51 on Monday.

Bernard Egbe, the clan head of the community, stated this when he received Peoples Democratic Party (PDP) candidate Sandy Onor, who was in the community to sympathise with them.

 

 

The clan chief, who described the situation as unfortunate, stated that many people infected with the disease were being treated at various health facilities in the area.

He went on to say that four of the victims being treated were in critical condition.

He stated that they had received assistance from WHO, UNICEF, and state government officials.

The cholera outbreak, which began on Thursday, affected ten villages in the Ekureku clan, he said.

 

 

 

 

Mr Onor, the PDP governorship candidate, said he felt the people’s pain but urged them to remain hopeful.

He stated that if elected, he would ensure that the people of the state have safe drinking water.
He gave cash as a consolation prize to each of the Ekureku community’s ten affected villages.

 

 

 

Meanwhile, Janet Ekpeyong, the Director-General of the state Primary Healthcare Development Agency, stated on Sunday that the state government is on top of the situation.

 

 

 

 

She stated that the government had used both human and material resources to stop the spread of the disease.

“The state Government has deployed a response team together with representatives from the World Health Organisation, the Nigerian Red Cross and Wash Programme.

 

 

 

 

 

“The combined team have all intervened accordingly and helped to save lives and prevent further spread of the disease,” she stated.

 

 

 

 

 

 

A case of the disease has also been reported in a remote village in the state’s Odukpani Local Government Area.

Iwara Iwara, Permanent Secretary in the state Ministry of Health, confirmed this to the News Agency of Nigeria (NAN) on Monday.

 

 

 

 

 

 

Mr Iwara stated that the outbreak was reported on Sunday night and that the government had sent men and materials to the area.

 

 

 

 

 

READ ALSO:Drama as Cross River State Governor locks out staff for late coming.

Continue Reading

News

Currency hawkers selling scarce new naira notes at party venues.

Published

on

Despite complaints that several bank branches had run out of the small quantities of the newly redesigned naira notes allocated to them by their head offices as early as 12 noon on Thursday, large wads of the new notes have saturated party venues, with hawkers charging N200 on N1,000.

 

 

 

 

On Thursday and Friday, journalists who visited banking halls in several cities across the country, particularly Lagos and Abuja, confirmed that there was a limited supply of the redesigned notes, as bank tellers mixed a few notes with the old ones for over-the-counter withdrawals, while automated teller machines continued to dispense old bank notes.

 

 

 

 

 

Further investigation revealed that several bank branches had yet to receive their new note allocations, with many bank officials informing our correspondents that the new notes were still on their way.

On the other hand, at a party in Ibadan, Oyo State, on Saturday, a woman was seen freely hawking newly redesigned wads of N200 bank notes.

 

 

 

 

 

 

However, officials at some of the bank branches that still had the new notes told reporters that each cashier was given N100,000 of the new N1,000 for onward disbursement to customers seeking over-the-counter payments, and that they do not yet have the N500 and N200 denominations.

 

 

 

 

 

 

 

Customers were also seen depositing old bills over the counter, while cashiers at bank branches were handing out more old naira notes.

Central Bank of Nigeria had earlier clarified on its website under currency management, that it is against the law to sell currency banknotes.

 

 

 

 

 

 

 

READ ALSO:Massive bombing by the Nigeria Air Force hits bandit hideouts, many killed.

 

 

 

 

 

 

Continue Reading

News

6 people dead, 25 injured in a ghastly road accident in Kogi state.

Published

on

The Kogi Command of the Federal Road Safety Corps (FRSC) confirmed that six people were killed and 25 others were injured in an accident on the Okene-Ogori road on Saturday.

Mr Stephen Dawulung, Sector Commander in Lokoja yesterday, revealed that the lone accident involved an articulated vehicle carrying 45 people and cows.

 

 

 

 

 

According to the sector commander, the accident occurred around noon and killed some of the cows.

The victims of the accident were taken to Ageva General Hospital in Okene, Ajunko Clinic and Maternity in Ibilo, and Ogbagidi General Hospital in Okene, according to Dawulung.

 

 

 

 

 

He said: “When the accident, which involved an IVECO trailer conveying cows and 45 persons down South, occurred by a graveyard just a few kilometres to Ogori Magongo along Okene-Ogori road, Kogi, our officers and men were timely in response to it.”

“Our officers in conjunction with the Police and military personnel came to the rescue and rushed the injured to four different medical centres for medical treatment. The corpses of the dead have also been deposited at the morgue of the Ageva General Hospital, Okene.”

 

 

 

 

 

 

The accident, according to Dawulung, was caused by speed, which was uncontrollable at “a sharp bend.”

The sector commander, who described the incident as “sad and unfortunate,” stated that the command would continue to carry out speed, overloading, and mixed loading enforcement and education programs.

 

 

 

 

 

 

 

 

 

 

The sector commander, who described the incident as “sad and unfortunate,” stated that the command would continue to carry out speed, overloading, and mixed loading enforcement and education programs.

He defined mixed loading as the loading of goods and passengers in trucks and other vehicles designed solely to transport goods.

He advised motorists to maintain strict adherence to road traffic regulations at all times in order to avoid such calamitous incidents.

 

 

 

 

 

 

 

 

 

READ ALSO:Man shoots his step-father dead while testing charm in Adamawa state

 

 

 

 

 

 

 

 

Continue Reading