In the urban district of Ordos in northern China, there is the city of Kanbashi, designed for 300 thousand inhabitants. Built during the construction boom, the promising metropolis has remained just an investment in real estate.
The global financial crisis has significantly reduced the appetites of developers and now some of them, trying in vain to return at least part of their investment, are thinking about blowing up the empty towers and selling the occupied land to new investors.
2. Suburb of Sesenyi
On the outskirts of the Spanish city of Seseña, between Madrid and Toledo, in the midst of a boom in real estate demand, billionaire Francisco Hernando built a huge residential complex with 13,500 apartments, which has become the largest in Europe built by private developers.
In 2008, Hernando handed over more than 2,000 apartments to the project's lenders, but the authorities stopped sales due to lack of drinking water and permission to move into buildings, not to mention infrastructure and roads. To crown it all, Hernando was accused of tax evasion and bribery, as a result of which he was forced to give up construction and flee to Equatorial Guinea.
The North Korean city of Kijondong, near the Demilitarized Zone, is often referred to as a "propaganda village." This is the only settlement in completely closed North Korea that can be observed from the territory of South Korea.
Kijondon is brightly colored sham "houses" with no interiors, but with electrification. The light comes on in their windows, but strictly in the same parts of the buildings and at a certain time. Occasionally, construction workers, soldiers and women cleaning the windows are noticed in the town.
The International China Investment Corporation for Property Management has built the city of Kilamba, 30 km from Luanda, the capital of Angola. 750 eight-story residential buildings were designed to accommodate 500 thousand people, more than a hundred shopping centers and dozens of schools were also built for them.
Despite the completion of construction, only 220 apartments have been sold in Kilamba so far, since the vast majority of Angolans cannot afford to buy apartments even with the help of a mortgage.