In today’s roundup of regional news headlines, the hits keep coming for embattled Chinese developers, with Evergrande reportedly stripped of its soccer stadium and Fantasia facing a wind-up petition. Meanwhile, data centre operator Global Switch is said to have… Read More>>
Fantasia Limits Bond Trading, Hires Bankruptcy Advisors and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, China’s beleaguered developers take centre stage as Fantasia limits trading in its Shanghai bonds, Modern Land requests a payment extension on its own debt, and Evergrande’s silent treatment of offshore creditors risks a… Read More>>
Fantasia Misses $205M Bond Payment, Fitch Slashes Issuer Rating
Hong Kong-listed Fantasia Holdings said Monday that it failed to make a principal payment on an offshore bond that came due on the same day, adding uncertainty to a Chinese property sector already rocked by the financial crisis at fellow… Read More>>
China’s Beike Exploring Hong Kong Listing and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, a report says housing broker Beike is contemplating a Hong Kong stock listing, debt-laden Evergrande’s heavy discounts fail to boost property sales, and analysts fear that China may be going too far with… Read More>>
Adidas Plans 3,000 New Mainland Stores and More China Real Estate Headlines 2016-03-06
Despite talk of a downturn, China still needs shoes as proven by a global sportswear-maker’s plan to open 3,000 new shops on the mainland. Also, as Shenzhen home prices continue to climb at double-digit rates, the head of one developer… Read More>>
Vanke Shares Drop 14% as Trading Resumes and More China Real Estate Headlines 2016-01-06
China’s stock markets stablised yesterday, perhaps with a bit of help from the National Team, but that didn’t prop up shares in China Vanke which resumed trading today. There are also signs this week of two more Hong Kong developers… Read More>>
Shenzhen Says Some Project Freezes Are Routine
Authorities in Shenzhen finally shed some clarity late yesterday on the government freezes of property sales that have shaken the country’s real estate firms, saying that at least some of the regulatory moves were routine.
According to a statement on… Read More>>
China Property Crisis Spreads As Government Locks Down More Projects
Investors in China’s real estate market scrambled to figure out which investments might be safe today as a total of six real estate developers are now said to have had sales frozen by the government. The unexplained official crackdown now… Read More>>
Moody’s Downgrades 3 China Developers in Real Estate Downturn
The combined pressures of higher debt and slowing sales for China’s real estate developers led a major ratings agency to downgrade the credit prospects of Fantasia Holdings, Guangzhou R&F, and Greentown China during the last month.
Moody’s Investor Services downgraded… Read More>>
Developer Fantasia Adjusts Sales Target as Profits Fall 68 Percent
Hong Kong-listed Fantasia Holdings became the first mainland developer to cut its sales target this year after it announced late last week that it had suffered a 68 percent fall in profits during the first half of 2014.
The Shenzhen-based… Read More>>