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Old Posted Jun 30, 2008, 7:33 PM
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10023 10023 is offline
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Location: London
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The real question is whether or not they are really 65% sold. With a delay like this, buyers are probably considering pulling their deposits, or those deposits could be returned in accordance with some contractual provision.

As long as it really is 2/3 sold, I can't imagine they couldn't structure something even if Teng only broke even or limited its losses as lead developer. But if the sales of apartments are voided, who knows.

Anyone here who's bought a unit care to inform us what communications you've received from Teng with regard to financing and construction progress, assuming you're not under any obligation to keep this information confidential?
There is a cult of ignorance in the United States, and there always has been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge." - Isaac Asimov