UNIT trust administrator Wong Hing-wah probably made his worst investment three years ago when he decided to buy a business unit in Dongguan after just a glimpse at sales literature in a promotion exhibition.
He is among about 300 Hong Kong buyers of Bayview Tower in Xinwan town who together paid more than $20 million in deposits before the developers said the amount was not enough to support the project.
They were told the project, comprising three 16-storey commercial and residential blocks, would be completed by late 1993.
But the construction site is still wasteland today.
The developers have suspended work and asked the buyers to wait until the financial problems have been sorted out.
Mr Wong said: 'I thought the investment should be safe because the developers claimed they had accreditation from the city government.
