Not to worry. The taxpayers will cover their investment mistakes. What’s a few billion between masters and serfs?
The problem with this type of investment is that the State now has a vested interest in promoting the development of this property. And the State has the power to control development.
The builders were smart. They got money, and they have their 16% interest, and they have to know they are first in line for approval for whatever their plans are, so the State can recoup it’s investment.
I’d be feeling pretty bad if I owned a developable property next door to this one. I know I’m not getting approval for diddly until after this other huge property has paid off for the State.