Company: Shanghai Meidu Real Estate Development
Estimated Damage Value: $2,000 per square meter*
In 2009, developers were building the Lotus Riverside Apartment Complex in China when an entire block toppled over on its side. It was eventually put down to the construction of a parking garage underneath the building. While workers were removing dirt, they were putting it on a nearby riverbank.
The weight caused the riverbank to collapse. As water leaked in, the foundations of the building became unstable, leading it to crumble. At the time, space in the structure was being sold for $2,000 per square meter. Not only did developers have to start again, but they also had to clear the damage.
Incredibly, only one worker perished in the terrible accident. Considering the grand scale and just how incredibly large apartment blocks are, the loss of life could’ve been far greater. The 13-story building fell to the ground nearly completely intact, amazing onlookers.