Group 1 - The project "Hengdi Zunyu Garden," which has been dormant for over 30 years, is nearing completion with the main structure of five 30-story residential buildings finished and landscaping in the final stages [1][2] - The project has not yet opened its marketing center or started sales, despite rumors of market entry since the completion of the main structure in 2023 [1][8] - Market conditions and the developer's strategic considerations are contributing factors to the delay in obtaining a pre-sale permit, reflecting complex property rights issues and historical disputes [1][8] Group 2 - The project, originally known as "Flora Mountain Villa," was initiated in 1993 but halted due to a funding crisis in the same year [2][4] - Regulatory changes, including the "ban on villas" policy established in 2012, further complicated the project's revival [5] - The project was revitalized in 2014 when the property rights were clarified, and it underwent a significant restructuring in 2021, leading to its current status as a high-rise residential development [5][6] Group 3 - The total planned construction area for Hengdi Zunyu Garden is approximately 105,000 square meters, with 672 residential units and a kindergarten [6] - The surrounding real estate market has seen significant price increases, with current prices in the area exceeding 60,000 yuan per square meter, compared to just 1,900 yuan per square meter in 1994 [9][10] - Nearby properties, such as "Bishui Longting" and "Vanke He Feng Xuan," have current second-hand listing prices ranging from 50,000 to 55,000 yuan per square meter [10][11]

Core Viewpoint - The long-stalled project, Hengdi Zunyu Garden, has finally progressed towards completion after over 30 years, with the main structure finished and landscaping nearing completion, but it has yet to obtain a pre-sale permit [1][2]. Group 1: Project Background - Hengdi Zunyu Garden was originally known as Flora Mountain Villa, a project that became a symbol of stalled development in Longhua, Shenzhen [3]. - The project began construction in April 1993 but was halted the same year due to a funding crisis [5]. - Regulatory changes, including the introduction of a "ban on villas" in 2012, further complicated the project's revival [6]. - In 2014, the project saw a turning point when the land was transferred to a cooperative company, resolving historical property disputes [6]. - The project was restructured in 2021, leading to a change in planning from villas to high-rise residential buildings, and was renamed Hengdi Zunyu Garden [6]. Group 2: Current Status and Market Context - The project has a total construction area of approximately 105,000 square meters, consisting of five 30-story residential buildings and a three-story kindergarten, totaling 672 residential units [7]. - Despite nearing completion, the marketing center is not yet open, and the project has not launched sales due to market conditions and developer strategy considerations [2]. - The surrounding real estate market has seen significant price increases, with current prices in the area exceeding 60,000 yuan per square meter, compared to just 1,900 yuan per square meter in 1994 [9][10]. - Nearby properties, such as Biyu Longting and Vanke He Fengxuan, have second-hand listings averaging between 50,000 to 55,000 yuan per square meter [10].