Major Property Developer Says Offices Ransacked by Homeowners

(Beijing) – China Vanke Co. said homeowners went on a rampage in its Shanghai offices following a meeting with company representatives on recent cuts in prices made by the company. 

On November 12, Shanghai Vanke reduced prices on its homes in Shanghai by 15 percent. The next day, Vanke said homeowners that purchased apartments near the upcoming Shanghai Disneyland in the Pudong District arrived at the offices to ask for compensation.