My guess is that the State is not happy for businesses or...

My guess is that the State is not happy for businesses or developers to acquire a designated site with very clear caveats, not deliver, then profit from the exercise. They may have been a bit more accomodating if there was at least some sort of attempt at development - the fact is, it remains entirely undeveloped, not even a sod of soil turned for the cameras.

Looking for the next twist in this saga - popcorn is done, next is a choc-top.