China property developers to buy back Tianjin blast homes: Xinhua

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People whose apartments were damaged in explosions in the northeastern Chinese port city of Tianjin can sell their homes to a group of property developers or choose to have the government renovate them, the official Xinhua news agency said. Hundreds of residents had protested demanding compensation in the wake of the blasts that killed at least 150 people at a hazardous chemicals warehouse earlier in August. Some apartment buildings were closer to the warehouse than allowed by Chinese regulations dealing with the storage of dangerous materials, and public anger surged among those who believed authorities neglected to properly police the firm that ran the facility, Tianjin Dongjiang Port Ruihai International Logistics Co Ltd. Several property developers said they had formed an alliance to buy back homes from owners, Xinhua said on Sunday, citing the housing administration in Tianjin's Binhai area.