An individual investor borrowed a large amount of money to build an expensive apartment/condo building on land he owned. After that, the property was seized because it became vacant and he was unable to repay the debt.
Please be aware that the construction cost contracted with the construction company is too high, which is one of the most common failure factors for real estate investors. Please be especially careful about real estate investments in which the construction company guarantees a certain amount of rental income for several decades after construction, as there have been many problems in which the guaranteed amount of rent is later reduced.