share this article!

HONG KONG, China — After real estate developer New World Development discovered major construction problems, two new 57-story apartment towers under construction atop a train station in Hong Kong will be dismantled. The two towers would be rebuilt, according to New World, one of the city’s largest developers, but a representative claimed five other towers where construction began earlier have passed construction quality and structural safety criteria. The municipal Building Department said it was examining what happened after testing revealed that inferior concrete was used in supporting columns and load-bearing walls in the two skyscrapers. Pavilia Farm, a suburban development, helped to bring Hong Kong’s property market back from the brink of a coronavirus-induced depression last year. The initial batch of Pavilia Farm units drew more interest from buyers than any other development since Hong Kong reverted to Chinese administration in 1997, with the firm making a total profit of 23.8 billion Hong Kong dollars ($3.06 billion) from the sale of 2,103 apartments in phases I and II. The company’s transfer of flats in those buildings to buyers, which was initially expected for the end of 2023, would be delayed by around nine months due to the destruction and rebuilding of the two towers in phase III. The 846 purchasers who were affected will be offered the chance to cancel their orders. Prices for the condos above Tai Wai train station ranged from HK$7.9 million to HK$25 million. A buyer who waits for completion on a HK$15 million apartment would receive up to HK$1.15 million in compensation and subsidies, while one who cancels will receive HK$310,000.” The company wishes to express its regret to individuals who have been inconvenienced by the handover delay “According to New World. The city-owned railway operator MTR Corp., which is also a co-developer of the project, said it is “very worried” about the issues and has sought a comprehensive investigation. “The developer was also asked by the corporation to assess the quality of the other towers in the development,” MTR stated. New World did not reply to questions about whether it is pursuing compensation from contractor Hip Seng Construction, but it did say it has ordered that the business look into if there was any carelessness or supervisory failings. The project supervisors involved, according to New World, have been replaced./nRead More

share this article!