Project building concerns put R&F Properties out of favour
After being a one-day hero on Tuesday for heading up a consortium of developers to bid successfully for the most expensive piece of land sold on the mainland, Guangzhou R&F Properties was shot down by state-owned media yesterday.
A report published on the People's Daily website criticised R&F's residential properties for their inadequate living space, low quality furnishings and poor parking arrangements.
It accused the company of focusing only on profitability while neglecting building quality. If that was not enough, it also criticised R&F for refusing to respond to questions from the media.
People's Daily Online quoted a report from China.org.cn citing a clerk of works who had inspected R&F's Another City project in Beijing and uncovered more than 20 problems.
The criticism came the day after R&F teamed up with fellow Guangzhou developers Agile Property Holdings and Country Garden Holdings to secure a huge site in the city for 25.5 billion yuan (HK$29 billion) in a public auction.