HONG KONG – Evergrande Group’s shares rebounded on Tuesday after being suspended for a day and a half as investors braced for more bad news about the property developer’s debt restructu…
Though I do wonder why the decision was made to demolish rather than have the government take them over. Seems like a waste, though obviously I haven’t seen their assessment so I don’t know the confounding details in this case.
Hard to say, perhaps the cost of finishing and maintaining these units wasn’t justified. If there’s not enough demand for housing then it might make sense to do that.
Yes, and also the liability. Imagine if the earlier constructors cut corners and there is less steel reinforcing in the lift-shafts than their should be…I don’t think they send people to prison for huge mistakes there…
Though I do wonder why the decision was made to demolish rather than have the government take them over. Seems like a waste, though obviously I haven’t seen their assessment so I don’t know the confounding details in this case.
Hard to say, perhaps the cost of finishing and maintaining these units wasn’t justified. If there’s not enough demand for housing then it might make sense to do that.
Yes, and also the liability. Imagine if the earlier constructors cut corners and there is less steel reinforcing in the lift-shafts than their should be…I don’t think they send people to prison for huge mistakes there…
Yeah, that’s an excellent point as well.
They must be completely unsalvageable, its a $1.2B USD loss by tearing them down.