Sun, Nov 23, 2014
A A A
Welcome hendrik.absolut
RSS

Real Estate Briefing - Categorized | Developers, Finance more

China: Property developers facing capital shortage

Posted on 18 May 2011

Evergrande Real Estate Group, one of China’s biggest property developers, has announced the sale of a 49 percent stake in its subsidiary, Grandday Group Ltd, whose principal asset is a large area of land in Jiangsu Province. Analysts described it as a necessary step for the developer to ease its shortage of capital, amid a general tightening of credit loans.
The Hong Kong listed developer said in a statement late Monday that the stake in Grandday Group was sold to Chinese Estates Holdings Ltd for $500 million, and that the sale would enable the two companies to form a strategic alliance in property development……………………………………….Full Article: Source


 Article link

This post was written by:

Laxman - who has written 28515 posts on Opalesque Real Estate Briefing.


Contact the author

Comments are closed.

banner
November 2014
M T W T F S S
« May    
 12
3456789
10111213141516
17181920212223
24252627282930