Toppled building payment offer near

SHANGHAI: Hundreds of homeowners at the Lotus Riverside complex, in which one of 11 uncompleted buildings toppled over in June, are expected to know by Saturday how much they will be compensated.

The property developer, Shanghai Meidu Real Estate Development Company, will announce the average sales price of the property by this week, according to Zhang Pengfeng, lawyer of Minhang district government. The sales price will be based on the price of June 26, the day before the 13-story building fell over almost intact and killed one.

Homeowners in the collapsed building will be paid compensation based on the current market price, which is calculated based on June 26.