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They don't own the land, it's a 20 year lease with buildings being rushed. Nobody cares about maintenance, and soon as the lease expires everything has to be demolished or abandoned.

A lot of these developments is also bare bone and empty, used solely as investment apartments which people buy only to sell at a higher value, which is kind of insane you might think as the more time passes on the less time on the lease. Who would buy a $500k apartment which they can only live in for 5 years until it has to be demolished.