John Paul,

You seem to be looking at the project through a different lens, as if there is trouble finding investors and that all these studies are required. When the reality is that investors are there and are already going through the slow process of negotiating a mega deal of this scale.

1 is signed, and 2 back up investors are lined up. Keep in mind that the investor who has signed, if his heirs do not proceed after the estate is settled, they could probably be sued. So even if all investors disappear and the project fails, there is good chance of recovering a whole lot of money from the investors who defaulted. A nice card to have up ones sleeve!

Also, I don't think management are planning to do the full detailed design right at the beginning. Normally a developer will do a complete master plan and then develop this design on phase by phase basis keeping just ahead of the construction programme.

JD