China Evergrande Group is marketing its Hong Kong headquarters at a valuation of around HK$9 billion ($1.15 billion), with Li Ka-shing’s CK Asset Holdings having placed a bid for the Wan Chai office tower, according to sources who spoke with… Read More>>
Evergrande Loses $1.1B Arbitration Case After Missing Restructuring Deadline
After failing to meet a promised deadline for announcing a restructuring plan, China Evergrande announced late on Sunday that a subsidiary of the mainland developer has lost a RMB 7.3 billion ($1.1 billion) arbitration case brought by a creditor.
Evergrande Fires CEO and CFO Over Alleged Illicit Loan Scheme
China Evergrande forced its chief executive and chief financial officer to resign last week, citing their involvement in a scheme in which loans secured by pledge guarantees were transferred and diverted back to the debt-saddled developer via unnamed third parties… Read More>>
CICT, Link REIT Circle Singapore Mall Portfolio and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, Singapore’s CapitaLand and Hong Kong’s Link REIT are reportedly working on bids for a $3 billion portfolio of shopping malls in the Lion City, while developer Chip Eng Seng pulls the plug on… Read More>>
China’s Frustrated Homebuyers Stop Paying Mortgages on Over 100 Projects
Intentional mass mortgage default by homebuyers at a delayed Evergrande project in Jingde town of Jiangxi province late last month has proved contagious, with data from CRIC as of 13 July showing that buyers of 106 projects across 47 cities… Read More>>
Evergrande Onshore Creditors Reject Extension of RMB 4.5B Bond
Debt holders have denied a request by China Evergrande’s primary onshore unit to delay repayment of a RMB 4.5 billion ($670 million) bond, turning up the heat on the world’s most leveraged developer as it faces a winding-up threat in… Read More>>
State-Owned Developers Dominate China Home Sales Rankings in 2022
With private development giants like China Evergrande having been brought low by debt troubles, state-owned enterprises continued to expand their dominance of China’s real estate industry in the first half of 2022, with government-backed developers holding 13 of the top… Read More>>
R&F Gets Nod to Extend Annual Report Delay and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, the Hong Kong stock exchange lets developer Guangzhou R&F delay the release of its 2021 results until August, China’s international infrastructure bank mulls opening its first overseas office, and debt-stricken Evergrande rallies creditors… Read More>>
Evergrande Gets Extension on $1.2B in Domestic Bonds and More Asia Real Estate Headlines
China Evergrande leads the news again today after the mainland’s most indebted developer won some extra time to repay its onshore debt. Also making the list, famous US investor Jim Chanos says that cloud providers like Amazon could spell trouble… Read More>>
Evergrande to ‘Vigorously’ Fight Winding-Up Petition Filed by Disgruntled Investor
Heavily indebted China Evergrande is fighting a winding-up petition filed by an investor in the developer’s Fangchebao online platform as the firm readies its restructuring plan, according to a Hong Kong stock filing on Tuesday.
“The company will oppose the… Read More>>
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