Core Insights - The Modern International New City project in Yantai represents a significant case in the city's commercial real estate development, initially envisioned as a major commercial hub but now seen as a symbol of urban decay [1] - The project, backed by Modern United Group with an investment of 2.5 billion yuan, was planned to include a 600,000 square meter development featuring a 160,000 square meter outlet mall and six skyscrapers, but has faced prolonged delays and challenges since its groundbreaking in 2011 [1] Group 1 - The project was expected to encompass diverse business formats, including international brand discounts, dining, entertainment, and headquarters economy [1] - Homebuyers, such as a woman who invested 700,000 yuan, have faced significant emotional and financial distress, waiting for a resolution that has yet to materialize [3] - The government's responses have been inconsistent, with promises ranging from project investigations in 2018 to a commitment for completion by the end of 2024, reflecting a prolonged struggle for resolution [3] Group 2 - The recent resumption of construction raises questions about whether this will lead to a successful revival or merely another cycle of disappointment [3] - The ongoing plight of investors and homeowners highlights the broader issues within the real estate market, particularly regarding trust and accountability [3] - The situation underscores the complexities and risks associated with large-scale real estate developments in fluctuating market conditions [3]