(H/T to reader Daniel Biri)
-The lot has just been purchased at ~390 Million Yuan. But no construction prep work
– The geotechnical survey and environmental review has been completed, but there is still a pending audit by a government agency
– The city government is still working on transportation, services and infrastructure to the site. The project will not be approve unless these work has been completed. (otherwise, you’ll have a tower has no water, electricity or transportation)
– The design work is still going on, and it has not been approved either internally or externally
– The project engineer has said on camera, that the project will NOT start now, nor will it be completed 3 month from now.
Broad Group can pre-fabricate, but they can’t start building (assembling?) until all approvals are cleared.
Also in the past projects, since both the owner and fabricator are the same company. They are the doing the inspections themselves, this time, perhaps government might institute a third party for on site inspection. If that’s the case, then 90 day construction time is pipe dream. Third party reviewer don’t care about schedule, but do care about their behind when they stamp the inspection papers.”