White Building families agree to price drop
About 85 percent of 493 families being asked to sell their White Building homes have dropped their asking price to $1,800 per square meter, but insist they will not negotiate any lower. The agreement came at a meeting of about 100 people at the White Building on April 18. White Building citizen representative Hun Saran said that if the price drops lower than $1,800, the residents will not leave. She said they also want the government to exempt them from tax when ownership is transferred. About 90 percent of the residents earlier agreed to leave the building rather than keep an apartment. They originally asked for between $2,000 and $2,200 per square meter to give up their properties. But the Japanese investment company behind the redevelopment of the building offered $1,263 per square meter.
