‘Pearl Horizon’ owners resume protests

A large group of “Pearl Horizon” buyers returned to public demonstrating yesterday.
This time the group chose Senado Square as the location for their protest. According to Public Security Police Force, a total of about 250 pre-sales buyers of Pearl Horizon units staged a protest urging the government to protect their interests.
The buyers once again appealed to the government to solve the problem. Speaking to TDM, the president of the Association Pearl Horizon, Lao Lap Chi, urged authorities to fulfill their promises to protect the rights of smallholders.
The protests have been repeatedly staged on several occasions before, after the government decided not to renew the developer’s hold on the land plot due to the expiration of the land concession period without clear developments in the project.
The Administrative Court also rejected an appeal from the concessionaire against the decision to confiscate the land; a decision that contributed to the fears of small buyers that claim they have lost their investments and their houses.
Many of them claim that they are paying high mortgages to banks that loaned them money to buy the properties.