Quote:
Originally Posted by Zapatan
I've barely found any info on the people behind it (Shenzhen New World Group). Perhaps there'd be more could I understand Chinese.
I wouldn't be too hopeful, and my guess would be no but who knows?
There was an article stating the project may move forward a while back but who knows what that means since it's LA. Take it with a grain of salt.
|
I honestly wouldn't count on it being built. China has been restricting major capital from entering other countries.
Aside from debt as a factor, it's why Oceanwide Plaza is halted (more than $1 billion in capital) and it's why One Beverly, another $1-billion-dollar project was sold off from Chinese hands.
This tower is following the same avenue so far despite just being in the planning stages right now.
Factor in the growth in the world economy, piling debt for Chinese companies, China restricting foreign capital investments and we'll likely see this delayed 5+ years or even cancelled.
They already submitted the plans for approvals and there's no cancelling that process. If approved, you can actually just sell the project as-is.
But even then, no one's going to be investing into a space like this for 2 years minimum.
Prev
Can anyone guesstimate when this tower will break ground if all goes well?
Linear Mode
