Under the Pandemic: Guangzhou’s Retreat from Old City Renewals

Put simply, it’s real estate companies contracting old rural areas and communities for demolition and renovation (buying land and building new properties). But recently, many such projects have seen developers applying to withdraw, mainly due to insufficient funding.

For ordinary people, when the macro environment carries high risk—like the ongoing pandemic—you should approach anything that promises future delivery but can’t be fulfilled today with caution.

Just imagine: a family that owns only one home, has it demolished, and receives neither full nor adequate compensation. How dire would their situation become?

Ensuring basic living standards is what matters most right now.