No. Not quite.
They bumped up the figures to justify such a big development. They then got some funding from the local government and were supposed to get the rest privately.
The private money didn't materialise but by that time the build had used all the local government funding (and then some) and collapse would have threatened a lot of local businesses so the local gov. coughed for the whole lot.
Most of it is now sitting empty and everyone is wondering where the money is coming from to pay back the invested money & interest as its obvious that the "projected" customers don't exist.
Happens all too often in this country just mostly on things people aren't quite so passionate about.
Most speculative developers develop (and speculate) with other people's money...who usually invest out of greed (private investors) or through lack of control (public money). Public servants who are responsible for allocating public money should, IMO, be accountable for the consequences. If that were the case, Lord Coe would now be minus his testicles and, IMO, that would be a good thing.