In today’s roundup of regional news headlines, a group of bondholders reportedly mulls legal action against Evergrande after the surprise disclosure of seized cash at the developer’s services unit, while rival Sunac China is said to be in talks to… Read More>>
HKEX Raps Fantasia Boss, Former Colour Life Execs for Property Management Tricks
Several current and former executives of defaulting developer Fantasia Holdings and its property management spin-off Colour Life Services drew a rare rebuke and disciplinary action from the Hong Kong stock exchange this week for breaking a non-compete deal.
In a… Read More>>
S&P Downgrades R&F’s Hong Kong Unit, Likens Payment Extension to Default
Guangzhou R&F Properties may have avoided default and gained an extra six months to repay a $750 million offshore note that came due on Thursday, but S&P Global Ratings has labelled the group’s delaying tactic a default in all but… Read More>>
Sunac Share Sale Raises $580M as Developer Faces Bond Deadline This Month
Mainland developer Sunac China Holdings continues to make moves to shore up its financial position, including a planned HK$4.52 billion ($580 million) share sale to a holding firm controlled by the family of chairman Sun Hongbin.
In the top-up deal… Read More>>
Country Garden China’s Top Developer for 2021 After Evergrande Sales Fall 39%
A second-half plunge knocked China Evergrande from its perch as China’s top developer by contracted sales in 2021, enabling rival Country Garden Holdings to seize the No.1 spot despite a lacklustre performance.
Shenzhen-based Evergrande, the world’s most indebted developer, had… Read More>>
China’s Sinic Holdings Warns of Second $250M Default in 10 Weeks
Sinic Holdings is staring at the prospect of a second $250 million default on offshore debt since mid-October, with the developer, which ranked as China’s 35th largest in 2020 by contracted sales, saying Wednesday that payments on a set of… Read More>>
Wanda Led China’s Top 10 Commercial Developers Again in 2019
Wang Jianlin’s Dalian Wanda Group may have been forced to unwind its overseas ambitions, but the billionaire’s property business in mainland China shows no signs of flagging after it hauled in operating income more than double that of its closest… Read More>>
Despite Financial Woes, Wanda Dominates China’s Top Commercial Developers in 2018
Dalian Wanda boss Wang Jianlin has been forced to scale back his ambitions and sell off overseas and non-core assets in the past two years, but his flagship real estate operation still has more than twice the operating revenue of… Read More>>
Poly Property Wins Kowloon Residential Project for HK$3.3B
The Hong Kong Lands Department on Wednesday announced that a subsidiary of China Poly Property, has won a tender for a 3,689-square-metre (39,708 square feet) residential site in Yau Tong, in the southeastern end of Kowloon.
Poly Property, China’s fourth… Read More>>
Yuzhou Properties Buys Seven Mainland Projects for $591M
Chinese developer Yuzhou Properties said on Monday it would buy seven mainland projects from competitor Coastal Greenland for RMB 3.8 billion ($591 million), according to a filing to the Hong Kong stock exchange.
The portfolio, which spans more than 3.13… Read More>>
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