Top level changes at a pair of Hong Kong-listed developers lead this week’s collection of personnel moves from around Asia, as the head of Shanghai-based builder trims back his role and a Hong Kong firm adds some diversity to its… Read More>>
News of rising interest rates bounced off the bulletproof confidence of Hong Kong home buyers last month like facts being flung aside at a Washington press conference, as home sales in the Asian financial hub leapt 44 percent compared to… Read More>>
Leading the news today, troubled Chinese developer Glorious Property has missed a bond payment exactly one year after an early default that was resolved once bondholders got lawyered up. Also in the headlines, Hong Kong homebuilders seem in a hurry… Read More>>
Two of Hong Kong’s biggest developers deny getting into a dispute over a residential project, while Blackrock chief Laurence Fink admits to worries over Chinese debt. Meanwhile one of China’s most beleaguered developers is suspected of playing dead so that… Read More>>
Hong Kong-listed real estate developer Glorious Property could become the latest victim of China’s property crunch after the mainland builder disclosed last week that its revenues had dropped 85 percent this year and it had failed to make payments on… Read More>>
Government bans on property sales are no longer confined to Shenzhen, as real estate developer Kaisa now sees its troubles spreading to other cities, and reports indicate that a Shanghai property developer has also had projects frozen.
According to a… Read More>>
A Chinese shipbuilder belonging to the same group of companies as troubled developer Glorious Property Holdings Ltd (HKG:0845) has asked bondholders not to demand their money back, as it struggles to restructure its finances.
Rongsheng Heavy Industries, which was founded… Read More>>
Slower sales and rising land prices will put stress on some of China’s real estate developers this year according to recent reports by credit agencies Standard & Poor’s and Moody’s.
The warnings from the ratings agencies happened in the same week that China saw its first default of a corporate bond as the country’s leaders attempt to wean businesses from their addiction to cheap credit.
Two top executives of Glorious Property Holdings Ltd. (845) resigned last week – less than one month after a failed buyout attempt by the troubled China real estate developer’s former chairman Zhang Zhirong.
The departure of Glorious CEO Liu Ning… Read More>>
Greenland Hong Kong Holdings Ltd. (337), a real estate unit of Chinese state-owned Greenland Holding Group Co., said it may create a venture to develop land it bought in Shanghai last month for 5.95 billion yuan ($983 million).
The company is in talks with a “reputable property developer” in China for the investment, according to a Hong Kong stock exchange filing yesterday.