Chinese Millionaire’s $15m floating palace ordered to be relocated


Here’s another sad story of a rich bird’s nest being invaded. A Chinese millionaire who built a luxury pad worth 100 million Yuan ($15,000,000)on the Guangdong province’s sea has been ordered to be relocated or it will be destroyed. Guo Kuizang started building it in 2003 after he made his riches in commercial real estate development. The villa covers 3000 square meters and is held in place by 39 anchors that weigh 1000kg each. Apparently, it has been lavishly decorated and also has a small horse breeding farm. Only the guests who have been personally invited on the island can take a look at the palatial house.

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A local court in Shenzhen has ordered the owner to vacate the sea space immediately as he was using it illegally. But the owner counteracted by arguing that it is an oceanic entertainment project and the country had no laws regulating such projects. But owner said that he had no choice but to leave it there and see what happens. I wonder how he hasn’t made any provisions for such situations in advance, considering that he is into real estate development.
[Luxury-insider]