Pearl Horizon | Buyers call for refund and meeting with developer

A group of approximately 70 Pearl Horizon buyers gathered at the Polytec Asset Holdings Limited headquarters to request a meeting with the company’s chairman Or Wai Sheun.

Accompanied by lawmakers Si Ka Lon, Wong Kit Cheng, Lei Cheng I, Ho Ion Sang and Song Pek Kei, the buyers delivered a letter to the company’s office with the hope of achieving a face-to-face discussion with Or to get a refund for the payment they already made for their investment in the project.

However, the company’s employees refused to accept the letter which was signed by about 300 Pearl Horizon buyers.

“It’s an indisputable fact that the Pearl Horizon […] land has been taken back by the SAR government, and that the related housing project cannot be developed. On this ground, we [buyers] issue our formal notice to the company, strongly requesting a full refund and compensation in light of the contract,” the letter reads.

Since the letter was rejected by the Polytec employee, lawmaker Lei Cheng I noted that the lawmakers and associations they represent will mail the letter to the Polytec Group.

“We request Polytec to pay […] our debt to the bank immediately. I am unhappy with both of Polytec’s proposals,” said one Pearl Horizon buyer, surnamed Fong.

Another buyer said: “We have been waiting for their proposal, but there hasn’t been one yet. The government also does not care.”

According to lawmaker Lei Cheng I, buyers have different compensation requests as many of them are in different situations.

“Executives of the Polytec Group should have met with buyers to discuss ways to solve the problem, […] and how to resolve the issue surrounding buyers’ contributions to banks,” declared Lei.

According to the buyers’ letter, they will go through the judiciary to obtain compensation if Polytec Group’s executives do not meet with them.

“If all buyers sue, the issue will be delayed,” said Lei, adding “if Polytec meets with buyers, [maybe] there is no need to solve the problem through judicial methods because [lawsuits] place heavy pressure upon buyers and heavy costs upon the society.”

“As a responsible developer, if they already said they will solve the problem, then, at least, developers should meet with buyers. Polytec took the money. If they can’t provide houses, at least they should refund payments,” said Lei.

According to Lei, many buyers plan to sue Polytec if their attempts to meet with the Polytec group’s executives fail, and if no solutions are provided.

Government opens FB page for buyers

THE MSAR government created a Facebook page called the Government Concern Group for Pearl Horizon Case in order to communicate with Pearl Horizon buyers. “The government intends to transmit, in a timely and comprehensive manner, all information to the buyers of the Pearl Horizon project, and to the various social sectors through this page. It is expected that through this page all buyers, along with their representatives and their associations, can communicate with the government to present their opinions, suggestions and requests,” reads a statement released by the Office of the Secretary for Administration and Justice.