That could take years it the contractor has gone bust.
We have a flyover here which hit the problem and it took few more years.
The government has to re-appoint a new construction company.
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That could take years it the contractor has gone bust.
We have a flyover here which hit the problem and it took few more years.
The government has to re-appoint a new construction company.
These contractors don't go bust. Or should won't. Projects like this are closely monitored by the government ensuring money isn;t embezzled out of the country like it had been too often in the past, that is what led to projects to many not getting completed. It still happens but not as often. I trust this will get completed and used. As for the residential building going up everywhere, I'm not sure when they'll be competed and if so when people will move in.
I heard there are many ghost building even - built and not occupied.
Here in Singapore, our authorities are supposed to keep tab on the contractors but there are still cases of them going under.
Yea, I'm sure Singapore as similar rules for constructing large residential buildings as in Canada. One of those rules are, in Canada, a building can not begin construction until 30% of the future units are already pre-sold. In China I am told they also have rules like this but the problem here is the contractors take the $10's of millions in US value and the y literally steal it and move their family to another country and never come back. The countries they move to are often Canada, USA, UK and other western countries that won't give the money back to China or send the criminals back either.
Many of the Chinese I meet their ultimate goal is to make enough money to leave. Luckily most work for it, blood, sweat and tears.
The common people like us can just continue to work hard till we strike some lottery or get some good crypto. :-)
Here our private residential condos can pretty much start construction before anything sold but one of the more recent regulation have it that the developer who don't sell out before a few years get penalised.