Tianjin starts appraising apartments damaged by blasts

TIANJIN - The Tianjin government has started appraising apartments damaged in last month's massive blasts, local authorities said on Sunday.

The municipal government has selected Fangda Real Estate Appraisal Company to assess apartments in seven residential compounds, where more than 17,000 units were damaged by the Aug 12 blasts.

The company will suggest whether an apartment requires rebuilding or buyback, said Huang Jisheng, general manager of the company.

The appraised value will be compared with the contract value of the apartments, and the higher price will be used for buyback, he said.

In addition, another 30 percent of value will be provided to residents as compensation, he added.

Two blasts tore through a warehouse that stored large amounts of toxic chemicals at the Tianjin port late on Aug 12.

A total of 165 people, including 99 firefighters and 11 police officers, were killed. Eight people, mainly firefighters, are still missing. Hundreds of the injured remain in hospitals.