“上海紫园”百亿争夺战再开庭：最惨“富二代”遭亲爹、后妈状告！

Core Viewpoint - The article discusses the ongoing legal disputes surrounding the Shanghai Ziyuan villa project, once the most expensive luxury property in China, highlighting the family conflicts and financial issues that have led to its prolonged suspension from the market [4][5][20]. Group 1: Background of Shanghai Ziyuan - Shanghai Ziyuan, located in the only national 4A tourist area in Shanghai, was once the pinnacle of luxury real estate, with its No. 1 villa selling for 130 million yuan in 2004, making it the most expensive home in the country at that time [4][5]. - The developer, Shanghai Jiacheng Zhaoye Real Estate Co., is led by Gao Jiarun, who is currently embroiled in a family dispute with his son David Golden over control of the company [4][5][8]. Group 2: Legal Disputes - In 2020, Gao Jiarun and his wife Hu Lan filed a lawsuit against David, demanding the return of company shares and repayment of 4.4 billion yuan in debts, leading to the suspension of Ziyuan sales since August 2020 [5][17]. - The ongoing legal battles have revealed complex family dynamics, with allegations of forged documents and disputes over ownership and control of the company [13][19]. Group 3: Financial Implications - The Ziyuan project has 190 unsold villas, with a total area of approximately 97,000 square meters, and a valuation exceeding 10 billion yuan as of 2020 [5][20]. - The financial strain on Jiacheng Zhaoye is evident, as the company faces a potential bankruptcy scenario due to high-interest loans and legal fees, with debts amounting to approximately 4.6 billion yuan plus interest [17][20]. Group 4: Market Context - Despite the legal issues, the luxury real estate market in Shanghai remains relatively stable, with the average price for high-end properties exceeding 70,000 yuan per square meter in 2023, reflecting an 18.77% increase since 2020 [26][20]. - The ongoing disputes have not only affected the Ziyuan project but also have broader implications for the luxury real estate market and investor confidence in the region [28][29].