An athletes village built for China’s National Games in 2013 and later planned for redevelopment now stands virtually empty and is a ghost town, according to a newspaper report.
The complex was built in Shenyang for when Liaoning province hosted the games, but public infrastructure at the site is now low, the housing occupancy rate is near zero and prices for some properties have plummeted 50 per cent, according to the China Business News.
Shenyang’s municipal government was tipped to move into the site after the games.
Other developers began projects in the area believing it was ripe for redevelopment, but the city government told the newspaper it had never promised to move its headquarters into the village.
Some development projects in the 120-hectare complex have never been completed and have fallen into disrepair, the report said.
The National Games athletes village reflects the city’s ailing real estate market, with 28 million square metres of property for sale, which could take an estimated three years to sell, according to the newspaper.
As reported by Business Insider