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08 Apr Shimao Group faces winding-up petition from China Construction Bank, signalling developer is in ‘serious debt trouble’

Posted at 04:18h in Asia

Shimao urged its offshore creditors to “carefully consider” the restructuring plan put forward on March 25, in which it presented four options including short-term and long-term notes offering an aggregate principal amount of no more than US$4 billion, according to an earlier stock exchange filing.“This...

05 Apr Lived-in home deals in Shanghai hit 20-month high in March, but agent says bull run may be ‘short-lived’ amid economic concerns

Posted at 12:48h in Asia

Transactions involving lived-in homes in Shanghai shot up in March as owners offered discounts to bargain hunters, but the outlook for the city’s housing market remains cloudy due to concerns about a bleak mainland Chinese economy.The number of transactions hit a 20-month high, and a...

25 Mar Country Garden finds partner to fund completion of skyscraper in Guangzhou, shares soar

Posted at 08:04h in Asia

Debt stricken property developer Country Garden has roped in a new partner to inject capital into its partially-finished, 64-storey commercial tower in Guangzhou’s Baietan business district, as the company overcame struggles to finish construction on a land parcel acquired in 2017.The announcement lifted the developer’s...

12 Mar Wharf sees more struggles ahead in Hong Kong, mainland China after reporting weak property sales, profit in 2023

Posted at 08:34h in Asia

Wharf (Holdings) said the slump in Hong Kong and mainland China’s property markets is likely to take more time for it to overcome, after the developer suffered another year of slower sales and earnings in 2023, while letting its land bank deplete to conserve cash.Total...

11 Mar China Vanke debt downgraded to ‘junk’ status by Moody’s as liquidity concerns mount amid tumbling property sales

Posted at 14:32h in Asia

International ratings agency Moody’s has stripped state-backed property giant China Vanke of its investment-grade credit rating amid concerns over its liquidity and ability to access funding amid declining sales.Moody’s Ratings withdrew China Vanke’s “Baa3” issuer rating, replacing it with a “Ba1” corporate family rating, which...

28 Feb Lawsuit brought by China Evergrande founder’s ex-wife against son for unpaid loan may be attempt to protect assets: analysts

Posted at 06:36h in Asia

The former partner of the detained billionaire is asking Xu for the money, which includes principal and interest, according to the court filings. The case is not yet scheduled for a hearing.“Xu and his father’s assets could be confiscated by courts in mainland China as...

02 Feb China Evergrande: attempts to auction onshore affiliate Fengtao’s assets fail for a third time in 3 weeks

Posted at 04:58h in Asia

An attempt to auction assets belonging to an onshore affiliate of mainland property giant China Evergrande Group, which was ordered by a Hong Kong court to be wound up earlier this week, failed for a third time.Assets of Fengtao (Shanghai) Property Company, a property...

12 Jan China Aoyuan wins Hong Kong court’s approval to proceed with restructuring more than US$4 billion of offshore debt, loans

Posted at 08:01h in Asia

Property developer China Aoyuan Group said it has secured approval from a Hong Kong court to proceed with a restructuring involving more than US$4 billion of offshore debts and many loan facilities with lenders after almost a year of negotiations with creditors. The stock...

property crisis Tag

08 Apr Shimao Group faces winding-up petition from China Construction Bank, signalling developer is in ‘serious debt trouble’

05 Apr Lived-in home deals in Shanghai hit 20-month high in March, but agent says bull run may be ‘short-lived’ amid economic concerns

25 Mar Country Garden finds partner to fund completion of skyscraper in Guangzhou, shares soar

12 Mar Wharf sees more struggles ahead in Hong Kong, mainland China after reporting weak property sales, profit in 2023

11 Mar China Vanke debt downgraded to ‘junk’ status by Moody’s as liquidity concerns mount amid tumbling property sales

28 Feb Lawsuit brought by China Evergrande founder’s ex-wife against son for unpaid loan may be attempt to protect assets: analysts

02 Feb China Evergrande: attempts to auction onshore affiliate Fengtao’s assets fail for a third time in 3 weeks

12 Jan China Aoyuan wins Hong Kong court’s approval to proceed with restructuring more than US$4 billion of offshore debt, loans

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