They say “no good deed goes unpunished” and one Chinese billionaire learned that the hard way after spending tens of millions of dollars on hundreds of luxury villas for all the residents in his home village, only to see them remain deserted as greedy recipients continue to argue over who should own multiple houses.
Five years ago, Chen Sheng, the founder and chairman of drinks company Tiandi No 1 Beverage Inc, committed 200 million yuan (US$31.9 million) to the construction of 258 luxury villas on a plot of land offered by authorities in the village of Guanhu, China’s Guangdong province. Each property measures 280 square meters and the three-story villas feature five bedrooms, two reception rooms, a garage and a small garden. The new village also has a small stream passing through it, several pedestrian bridges, basketball and badminton courts and even a public stage for various cultural events, but even though everything was completed last year, the place remains deserted.
