China Fortune Land Development is selling its interests in three mixed-use projects in the cities of Wuhan and Nanjing to mainland property giant China Resources Land for a total of RMB 12.4 billion ($1.8 billion), as the default-prone developer moves… Read More>>
Shimao Asks for Repayment Delay on $183M in Debt and More Asia Real Estate Headlines
In today’s roundup of regional news headlines, cash-strapped Shimao Group seeks an extension for repayments on asset-backed securities, private equity bigfoot Blackstone raises its offer for Australia’s Crown Resorts a third time, and Singapore’s Metro Group forms an investment alliance… Read More>>
CFLD Default on $530M Bond Highlights Developer Risks From China Credit Crackdown
The impact of China’s crackdown on corporate debt came into clearer view in recent days as a former top 10 mainland developer confirmed last Friday that it was unable to repay holders of $530 million in dollar-denominated bonds that came… Read More>>
China’s Central Bank, MOHURD Target Indebted Developers
After loosening the financial reins to boost an economy pummelled by the Covid-19 crisis in February this year, the Chinese government appears to be rolling out new measures to clamp down on flows of capital into the country’s now surging… Read More>>