Perhaps you should ask what my definition of "new" is before you inform me that it isn't a newly built city. It is in fact new. I live in a city that's was founded nearly 2000 years ago so I'm sorry but to me a city built within the span of my lifetime (33 years) is new and it's clear from the architectural design of the buildings that this city was built in the last 20 or so years.
As to why it's empty, well having reviewed some of the linked you provided as sources for your synopsis, it would seem that the issue is as mentioned, exceptionally high cost of living, issues with developers and a general lack of understanding of how human settlements are established and grow.
That city won't get what it needs for the simply fact that apparently some of the buildings there are unfinished and are decaying. This means that eventually parts of the city will fall into ruins as innumerable ancient cities have in the past.
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Oh well then, it is as new as it can be. surely cost of living is one reason for its uninhabitable nature. The people probably would rather live a simple life. Hopefully the city doesn't end up as you have predicted