Could be but this is my understanding. In a condo you own the actual air space that your apartment occupies so if it is above leased land it would pose legal issues.
I think that is true?
There was some new legislation banning new condos on leased land. If I recall correctly, I think it was called the No-Can-Do Condo Bill. 
Our Government is now getting a bit too cute with the names of new legislation. Who would have believed that they would now come up with something as whacky as - The Big Beautiful Bill.
Sorry, permit me a bit a levity in the face of all this insanity. 