Very curious as to why anyone would sell at these depressed prices given that we expect to hear that the land will be booked as an asset ... very soon.

I base that conclusion on the fact that management went out of their way to show the impact of the $718m on the books of both LLC and Inc. ... while also disclosing that they were in receipt of the draft report from PWC (see last 8k). In my opinion, they would not have gone through the trouble of showing the balance sheet and book value impact if the PWC report had come back with a contrary conclusion.

On another note, regarding profitability of this project once it gets on under way ...

Given that the estimated value of the land is AT LEAST $783/square meter ($718 is the net value after deducting the $65/square meter due the government when said "meter" is sold), the conservative profit on just the sale of the land alone is huge ($718/square meter). And that does not include the profit margin on the buildings to be built and sold. Of course, there are other costs involved, but those will be factored into the selling price of each property. Bottom line: the bottom line profits of this endeavor are going to be tremendous.

So, can someone tell me why they are selling now vs. a year ago?