In today’s roundup of regional news headlines, a unit of Chinese developer Yango loses its wind-up case in a Hong Kong court, India’s DLF says it’s likely to delay a planned REIT launch, and a Singapore commercial development goes up… Read More>>
Evergrande Creditors Extend Deadline on Domestic Bond and More Asia Real Estate Headlines
Turmoil in mainland China’s property sector leads the real estate news from around the region again today as the country’s biggest developer gets more time to pay debts and two of the world’s largest credit agencies withdraw ratings on seven… Read More>>
Shanghai’s CIFI Defaults on Offshore Bond Despite Government Support
CIFI Holdings said on Thursday that it has failed to make payments due on offshore debts, with creditors indicating that it defaulted on a payment on a HK$2.5 billion ($318 million) convertible bond due on 8 October.
A notice… Read More>>
CIFI Holdings Confirms Trust Loan Default as Stock Drops 48%
China’s property crisis continues to spread with CIFI Holdings, a Shanghai-based developer which has received government support in securing new financing, disclosing this week that it has defaulted on an onshore trust loan.
Credit intelligence provider Reorg reported Wednesday that… Read More>>
HSBC Boss Says China Crisis Just Getting Started and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, the head of HSBC warns of at least two more years of pain in China’s commercial property market, Yanlord Land Group announces its subsidiary’s winning tender for the Lentor Central site in Singapore,… Read More>>
$1.3B Singapore Tender Fails to Draw a Bid and More Asia Real Estate Headlines
The upper limits of Singapore’s commercial property market were successfully tested this week as a $1.3 billion project tender in the city’s Chinatown area failed to draw a single bid from potential developers. Also in the news, Evergrande’s electric vehicle… Read More>>
China’s Biggest Developer Country Garden Warns of 70% Profit Drop
Country Garden Holdings says that its net earnings are likely to have plunged by as much as 70 percent in the first half of 2022, as China’s deepening real estate crisis hammers the country’s largest developer.
Guangdong-based Country Garden issued… Read More>>
Vanke Approved for Property Management IPO and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, Chinese developer Vanke gets the green light from mainland authorities to spin off its property management unit in a Hong Kong IPO, while the pending sale of Pfizer’s South Korean headquarters hits a… Read More>>
BlackRock to Double Singapore Space and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, asset management champ BlackRock plans a major expansion in Singapore, private equity giant Blackstone completes its acquisition of Aussie casino operator Crown Resorts, and Fitch Ratings drops coverage of a Chinese homebuilder.
Fitch Sees China Home Sales Falling Up to 30% This Year as Confidence Erodes
Fitch Ratings has revised down its 2022 forecast for China home sales to a decline of 25-30 percent as COVID-19 lockdowns, developer defaults and crumbling consumer confidence continue to suppress buyer demand.
Sales in the world’s biggest housing market were… Read More>>