Nothing to see here.
They just reproduce ideas, we saw this idea of real estate already and we came into a conclusion that it is almost impossible to make something that will actually catch and have a market share, and it has to be successful in order to actually have a value.
Also the development team are unknown, and I can't see how can they run a project that others failed to do.
They've already achieved success by partnering with Woodfine Capital, Marine Bay, Cocobay Danang, and Aura Health. Your argument would be correct if they hadn't already proven themselves, but they have.