Page 23 - Property Sector News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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Says everyone has to accept the fact that pricing is down 30pc to 40pc

HONG KONG (Reuters) -Chinese developer Country Garden said on Wednesday a liquidation petition has been filed against it for non-payment of a $205 million loan, clouding its debt revamp prospects and undermining Beijing's effort to restore confidence in the property sector. Country Garden said in a regulatory filing it would "resolutely" oppose the petition, which was filed by a creditor, Ever Credit Limited, a unit of Hong Kong-listed Kingboard Holdings, opens new tab. The petition is set to revive homebuyer and creditor concerns about the Chinese property sector's debt ...

HONG KONG (Reuters) -A group of offshore creditors of China South City is set to file a lawsuit against the debt-laden developer's biggest state-owned shareholder for dues, four sources said, in what would be the first such case in the crisis-hit property sector. China South City earlier this month missed a principal payment of $11.25 million on a dollar bond due on Feb. 9, and is deemed by creditors to be in default on offshore debts worth $1.3 billion, two bondholder sources said. The group of creditors, who have formed a so-called ad-hoc group, is preparing to file the lawsuit in a H...

China's housing authority said 123.6 billion yuan ($17.20 billion) of development loans have been approved and 29.4 billion yuan have been issued under a special mechanism aimed at injecting liquidity into the crisis-hit property sector. Under China's "whitelist" mechanism launched on Jan. 26, city governments recommend residential projects to banks suitable for financial support, and coordinate with financial institutions to meet project needs. The mechanism is a key plank of Beijing's efforts to stabilise the property sector's debt crisis and boost confidence ...