Competition is rapidly bringing down Hong Kong’s housing prices as Wheelock is now offering discounts of nearly 20 percent on its new project. Meanwhile on the mainland, the housing recovery may be bailing out the broader economy, and a Chinese… Read More>>
30 Developers Compete to Pay Double for Suburban Shanghai Land
A crowd of 30 mainland developers cast aside concerns of a government clampdown on Shanghai housing sales last week to stoke a bidding war for three pieces of land in the city’s suburbs, which ultimately sold for well above their… Read More>>
Evergrande Shares Follow Profits South After Deal Spree and More China Real Estate Headlines
China’s most indebted developer dug itself in even deeper today, and investors punished the company’s stock today after core profit slid nine percent. Plus, Carlyle raises money to for an Asian acquisition drive and that big developer with the falling… Read More>>
China Real Estate News Around the Web 2015-09-21
Every day Mingtiandi scans the web and curates the day’s biggest stories for you. Here’s what we found today:
Sunac Drops Yurun Talks as 3rd Takeover Bid Fizzles
Sunac China Holdings Ltd., the Chinese developer that dropped a takeover bid… Read More>>
Kaisa Defaults and Investors Go Back to School
“Collapse.” “Bloodbath.” “Buckled under its debts.”
Troubled China real estate developer Kaisa Group Holdings defaulted on $52 million of interest payments on offshore bonds worth $800 million over the weekend, and the news accounts have been letting us know that it’s… Read More>>
Kaisa Says Shenzhen Govt No Longer Blocking Project Sales
Scandal-rocked real estate developer Kaisa Group today announced that the Shenzhen government’s freeze on sales has been partially lifted at seven of the 11 projects that had previously been blocked by the authorities.
The ban on sales at Kaisa’s projects… Read More>>
Kaisa Seeks to Pay Less and Pay Slower in Talks with Creditors
Woeful and wobbly real estate developer Kaisa Group Holdings revealed its plans for restructuring nearly RMB 48 billion ($7.6 billion) in debts to domestic Chinese creditors today, as the company claws its way back from the brink of default.
The… Read More>>
Kaisa Creditors Won’t Be Fully Paid Developer Warns
The last-minute rescue of Kaisa Group Holdings lost some of its “happily ever-after” element this week when the troubled real estate developer warned creditors not to expect all of the money that they originally were promised.
In a statement yesterday… Read More>>
Kaisa Saved From Default by Sunac Buyout
China’s Kaisa Group may have been saved from default today when Sunac chairman Sun Hongbin announced that his company would be acquiring a 49.3 percent stake in the troubled real estate developer.
Sun said in an interview at Kaisa’s headquarters… Read More>>
Confusion Reigns as Kaisa CEO Quits
Kaisa Group announced the latest in a series of unexpected news today when the struggling China real estate developer revealed that its chief executive officer had resigned effective February 1st.
In a statement to the Hong Kong stock exchange, Kaisa… Read More>>
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