Polytec Asset Holdings Chairman Or Wai Sheun said yesterday that Polytex, a subsidiary of Polytec, “definitely can’t lose, and won’t lose” its lawsuit in the Administrative Court against the local government over the Pearl Horizon debacle, according to government broadcaster TDM.
Asked by reporters outside the Great Hall of the People in Beijing, Or, a member of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), pledged to resume and complete the construction of the residential project “as quickly as possible” while maintaining its “high quality” after “winning the lawsuit” and the court giving it “sufficient time to complete construction”, TDM said.
The Pearl Horizon project site’s provisional land concession granted to Polytex expired on December 26. The government gazetted the expiration of the concession in January. The project has been mothballed since December. Blaming bureaucratic red tape for the project’s long delay, the developer is taking the government to court to challenge the official decision to reclaim the construction site.
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