As China Evergrande Group tries to quell concerns about its financial health, the property giant has gone to great lengths to publicize its shrinking debt load, reported Bloomberg. The developer has, however, also been ramping up issuance of short-term IOUs. While not technically classified as debt, Evergrande’s growing reliance on such financing — known in […]
Category: Property
China Vanke Co. has said it will give more weight to real estate management and services, as the country’s largest property developers tweak their business models to bolster profitability amid tighter government restrictions on borrowing, reported Caixin. The move heralds a shift away from the Hong Kong- and Shenzhen-listed firm’s focus on real estate development […]
Debt-ridden China Evergrande Group will sell a stake in a Shenzhen-listed developer in a deal approximated at $400 million due to concerns about the company’s financial state, reported Caixin. According to a Calxon filing on Tuesday about the deal, Guangzhou Chiron Real Estate, a subsidiary of Evergrande, would transfer a 29.9% stake in China Calxon […]
The Chinese mutual fund markets saw the first publicly offered infrastructure-focused real estate investment trusts (REITs) on Monday, over ten years after the idea was initially suggested and subsequently mooted, reported Caixin. The new REITs debuted on the Shanghai and Shenzhen exchanges and differ from previous iterations by being focused on infrastructure projects rather than […]
US private equity firm Blackstone has reached a deal to purchase property developer Soho China for around $3 billion, the firm’s largest foray into the Chinese real estate market so far, reported the Financial Times. Blackstone has offered HK$5 a share for the majority stake in the Hong Kong-listed Soho China, whose developments are centered […]