'Nail house' owner receives millions of yuan in compensation

Updated: 2007-09-30 22:07

A couple in south China's Guangdong Province have ended their one-year battle to protect their house from being razed by developers after receiving compensation.

The old couple, Cai Zhuxiang and Zhang Lianhao, from Shenzhen, refused to reveal details about the compensation but it is believed to be between a staggering 10 million and 20 million yuan (US$1.3 million to 2.7 million).

The couple's seven-storey brick building lies in the booming downtown area of Shenzhen's Luohu district. A photo on China's portal website Sina.com shows it is erected on a bare excavation site as large as 63 football fields against the backdrop of a forest of fancy buildings.

Cai, 57, received the notice ordering him to move this April, when the compensation offered by developer was only 5,000 yuan per square meter. "Apartments near my house were all sold at a price above 16,000 yuan," he said.

He noted that the building, which was built ten years ago, cost him one million yuan.

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