CK ASSET(HK:01113) Mei Ri Jing Ji Xin Wen·2025-09-08 01:57Core Viewpoint - The luxury residential project "Huiyuanxi" in Shanghai's Xuhui District is facing significant quality complaints from homeowners, with issues related to construction delays and defects in the building's exterior [2][3][6]. Group 1: Project Overview - "Huiyuanxi" is located in the Xuhui Riverside area, near other high-profile developments, and initially attracted over 1,000 buyers with a subscription rate of 263% during its first launch [2][3]. - The project has a total of 414 units, with a second phase achieving a subscription rate of 667% [3]. Group 2: Quality Complaints - Homeowners reported that the exterior of the building showed signs of poor workmanship, including bulging aluminum panels, deformation, and rusting steel frames [2][3][5]. - Issues such as water leakage, rough plastering, and improper disposal of construction waste have also been noted [3][5]. Group 3: Developer's Response - The developer, through the "Huiyuanxi" WeChat account, announced meetings to address homeowner concerns and stated that they are conducting a comprehensive inspection and rework of the exterior [6][12]. - The developer claims that the project is progressing according to the established construction schedule and is in the final stages of completion [12]. Group 4: Regulatory Oversight - The project has been flagged by the Shanghai Municipal Housing and Urban-Rural Development Commission for management issues, indicating a need for increased regulatory scrutiny [9]. - Homeowners have reported their concerns to the municipal hotline, which has forwarded the issues to the relevant authorities for further action [5][9]. Group 5: Market Context - "Huiyuanxi" is developed by Hong Kong Land, a well-known property developer, and is part of a larger trend of luxury residential projects in Shanghai, which have seen high demand and competitive pricing [7][11].