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Top 10 real estate debacles 2009

(chinadaily.com.cn)
Updated: 2009-12-21 06:00
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6. Shaky building wins "high-quality residential building" award

Top 10 real estate debacles 2009
A residential housing project in Nanjing with a poor foundation was awarded the "high-quality residential building" prize.

A residential housing project in Nanjing, with a shaky foundation and in high danger of collapsing, has received an "high-quality residential building" award on November 21.

The prize is the most authoritative of its kind given out by the local government. In fact, the appraisal has generally been interpreted as a review of the quality of residential buildings in Jiangsu province, and is officially organized by an institution attached to the local government.

Yet, ironically, residents have already been evacuated from the building and work is under way to consolidate its foundation. The building has been nicknamed lou wai wai, meaning a structure that has a slant.

It is unclear how the building was assessed and on what basis the panel members decided it was "excellent in quality". It seems likely that none of the panel members ever inspected the building before casting their votes.

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Top 10 real estate debacles 2009 Taking public for a ride
Top 10 real estate debacles 2009 'Guilt' has builders thinking green on construction

Top 10 real estate debacles 2009
Public doubt grows about inspection of a housing project.

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