Two more Shenzhen developers hit with sales ban

Shenzhen’s municipal government blocked sales by property developers Rongchao Real Estate and Dong Dao Real Estate Thursday, South China Morning Post reported, citing industry sources. Analysts said more than 1,400 units in Shenzhen had been suspended from pre-sale since December, and the website of Shenzhen’s Urban Planning, Land and Resources Commission showed four of  property developer Kaisa’s (1683.HKG) five projects on sale had been blocked, accounting for more than 1,000 of that total. Hundreds of buyers in Kaisa’s City Plaza project swamped the company’s sales office on Tuesday demanding the government ensure due delivery of the project.