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Shimao pushes back on media reports, says it’s in talks for property sales to help resolve debt crisis

An elderly couple walk past a sign in front of Shimao Tower, developed by Shimao Group Holdings Ltd., in Shanghai, China, on Saturday, Jan. 8, 2022.Qilai Shen | Bloomberg | Getty ImagesBEIJING — Chinese real estate developer Shimao Group Holdings pushed back Tuesday on reports of default and sales

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China’s real estate problems are spreading even to once-healthy developers

InterContinental Shanghai Wonderland, a luxury hotel developed by Shimao and managed by IHG, opened in 2018 and is pictured here on Oct. 11, 2020.Costfoto | Future Publishing | Getty ImagesBEIJING — One of China's healthiest real estate developers has reportedly defaulted, a sign of how more pain is ahead

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China Evergrande says contracted sales dropped 38.7% in 2021

An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018.Bobby Yip | ReutersBEIJING — Indebted property developer China Evergrande's contracted sales plunged last year as the real estate giant struggled to repay creditors.A filing Tuesday showed the company's contracted sales of properties totaled 443.02 billion

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RBI-appointed administrator moves court to retain Srei control over Trinity

At the heart of the bankruptcy proceedings of one of India's largest non-banking finance companies, Srei, and its subsidiary lies a lesser known asset management firm called Trinity, which runs multiple funds with diverse investments. Fearing that could slip out of control, the Reserve Bank of India (RBI)-appointed

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Singapore’s PropertyGuru sets its sights on mergers and acquisitions after its planned SPAC listing

Hari Krishnan, chief executive officer of Singapore-based start-up PropertyGuru.Nicky Loh | Bloomberg | Getty ImagesSoutheast Asia's online real estate company PropertyGuru plans to use proceeds from its public market debut next year for mergers and acquisitions, its CEO Hari V. Krishnan told CNBC.The start-up — which operates in Singapore,

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Evergrande slides into default while some ratings agencies keep quiet

An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018.Bobby Yip | ReutersBEIJING — Indebted property developer China Evergrande defaulted this week with hardly a ripple in markets as most institutions remained silent.Late Thursday, Fitch Ratings said Evergrande had not confirmed payment of its latest

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China’s real estate uncertainties persist, fueling market anxiety

Listings of apartments for sale displayed at a real estate office in Shanghai, China, on Monday, Aug. 30, 2021.Qilai Shen | Bloomberg | Getty ImagesBEIJING — Wild swings in Chinese real estate stocks and bonds are keeping investors on edge — these news headlines could cause troubles in the

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Shares of Chinese real estate developer Kaisa pop 20% after debt restructuring plan

Kaisa Group Holdings Ltd.'s City Plaza development under construction in Shanghai, China, on Tuesday, Nov. 16, 2021.Qilai Shen | Bloomberg | Getty ImagesBEIJING — Chinese real estate developer Kaisa announced Thursday plans for paying back investors, temporarily alleviating concerns about a default as China's property sector continues to face

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Evergrande default is highly likely, S&P says

The logo of China Evergrande is seen at outside China Evergrande Centre building in Hong Kong, China September 23, 2021.Tyrone Siu | ReutersBEIJING — Highly indebted property developer China Evergrande will likely default because the company has essentially lost its main business, S&P Global Ratings analysts said in a

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