Just another site where, soon enough, another high-rise will go up.
One of the things that makes me smile to myself is that in America, any unobstructed drop off would be blockaded immediately--and with something more substantial than a few potted plants(!). Warning signs would be posted. The whole area would be secured--otherwise, it's a law suit waiting to happen.
Here though, it seems a higher level of common sense (or the sense of self-preservation) is assumed. That might not be right, though. Maybe the people who dug the hole, or the people who regulate safety standards at construction sites are relying on luck--counting on bad luck and misfortune striking somewhere other than near this drop off. Or still, maybe they've made no effort to block the drop off because they know that they'll never be successfully sued if someone (even through no fault of their own) falls in.