Old Buildings, New Life


Buildings left incomplete and condemned after the 1997 Asian financial crisis halted the decade’s realty boom, may soon be given new hope. Instead of demolishing and starting over, officials are taking opportunities to renovate them.  Shatian Town has scheduled one day a month for discussions of such projects; Humen Town has spent three years renovating the Pacific Plaza project, a shopping center unfinished after Hong Kong developers hit financial problems in 1992; and there are other projects close to restarting as well, but the process is slow, according to a report by the Want China Times, due to discord with landlords and financial complications stemming from credit bundles.