Kunming CIFI Plaza, which was originally scheduled to open in September last year, has been reported to resume work many times after the shutdown in 2022, but according to the information released by Panlong District, the construction site was still in a state of suspension as of the end of last year, and construction could not resume until CIFI Real Estate completed financing.
Judging from this, the construction funds of Kunming Xuhui Plaza are still unsettled, and the plan for the opening of Xuhui Plaza in December this year, which was revealed in Longquan Street in Panlong District in May last year, is likely to fall through.
In order to understand the real construction progress of CIFI Plaza, Yunnan Real Estate Network went to the construction site to see it before the Spring Festival.
According to Yunnan Real Estate Network, CIFI Plaza not only continues to suspend work, but also seems to have been suspended for a long time, and the so-called news of the resumption of work in May last year is likely to be just the developer's publicity. Sure enough, Fangwang learned from the site attendants that CIFI Plaza has not resumed work since it was suspended in 2022.
Due to the long-term shutdown, the CIFI Plaza construction site is overgrown with weeds, and the main body of the building is only one or two floors above ground, as recently replied by the authorities, and it is still too early to be capped. After a long downtime, there has been a lot of water accumulation in the foundation pit, and some of the building materials stacked on the site have rusted.
The CIFI Plaza construction site is overgrown with weeds and there is already a lot of standing water.
If CIFI Plaza does not resume work, the construction site is likely to become a big pool after the rainy season this year, which will not only affect the life of the underground project that has been constructed in the long run, but also adversely affect the future resumption of work. Insiders in the construction industry said that high-rise buildings are most afraid of unfinished construction in the underground engineering construction stage, because once the construction is stopped at this stage, the construction site will become a pool, and the underground layers will be soaked in water for a long time, which not only damages the life of the building, but also may cause the foundation pit to be unstable.
However, the real estate consultant of the sales department of CIFI Plaza has another statement about the suspension of CIFI Plaza, the real estate consultant said that CIFI Plaza did resume work last year, and the recent shutdown is because the workers will go home for the New Year, and the construction will resume after the Spring Festival, and it will open on the National Day this year.
However, the current situation of the construction site of CIFI Plaza seems to be difficult to match the statement of the real estate consultant, because neither the water in the foundation pit nor the wild grass on the construction site is formed in a short period of time, and according to the progress of CIFI Plaza, it is difficult to open on the National Day this year.
Of course, the statement of the real estate consultant of Bochen Mansion can also be understood, because although the commercial part of CIFI Plaza is suspended, the residential part, that is, Bochen Mansion, is still on sale.
The main part of CIFI Plaza has just been exposed to the ground.
CIFI Plaza Bochen Mansion is divided into two phases of development, which will be launched in 2021, of which the first phase of the group of 4 residences has been delivered in January this year, and the second group is being sold. The second group, like the first group, also has only 4 residences, 2 are for sale, and 3 residences have not yet been launched. If you add the 8 residences in the second phase, there are still more unsold houses in CIFI Plaza, but as a project on the edge of the city, the original positioning is relatively high, the house type is large, and the first is high, if the commercial plaza can be completed and opened as scheduled, it can also drive residential sales, but now the commercial part has been suspended for a long time, and there is no hope for opening in the short term, which is bound to have a great impact on the sales of Bochen Mansion.
Perhaps because of the commercial development has dragged its feet, the ** of Bochen Mansion is also much cheaper than at the beginning, and the real estate consultant told the latest price of Yunnan Housing Network is 150,000-190,000, hardcover delivery, but the house type is relatively large, with an area of 120-190 square meters. When the market opened in June 2021, the starting price announced to the public was 180 thousand.
The problem now is that CIFI Real Estate's financial situation has not fundamentally improved, and it is no longer easy to maintain the development of Bochen Mansion, and it is difficult to have funds to resume the construction of CIFI Plaza in the short term. Considering the current situation of the real estate market and the situation of physical commerce, as well as the reality of the surplus of large shopping malls in Kunming, coupled with the geographical location of CIFI Plaza is very remote, the business prospects are not very good, and the possibility of long-term failure of the project is increasing.
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Kunming Xuhui Plaza is hopeless to open this year, and plans to resume work this month and put into use by the end of next year.