Real Estate Chinese real estate company — whose ex-chairman is worth an estimated $11.2 billion — is accused of swindling investors Christin Hakim, September 1, 2023March 19, 2023 The second-largest real estate developer in China, China Evergrande Group, is facing a massive liquidity crisis that has sparked anger among investors and homebuyers. Evergrande’s financial troubles: The company’s years of borrowing have resulted in a colossal debt, amounting to over more than $300 billion, and a struggle to pay… Continue Reading
Real Estate Kaisa Group, another Chinese real estate developer, is in serious trouble Christin Hakim, November 6, 2021 Shares of Kaisa Group, a Shenzhen-based developer, were suspended from trading on Friday in Hong Kong. The company’s subsidiaries, which were also halted from trading, cited a “pending” announcement about the group in stock exchange filings. While Kaisa did not disclose more details for the reason behind the suspension, it… Continue Reading
Real Estate Modern Land, another Chinese developer, is struggling to pay its debts Christin Hakim, October 12, 2021 Modern Land is asking investors for more time to pay back a $250 million bond, according to a company filing with the Hong Kong Stock Exchange on Monday. The payment was due October 25. Modern Land said it wants to extend that deadline to the end of January as it… Continue Reading
Real Estate A Chinese Real Estate Company Could Default on $300B Debt; What It Means for World Economy Christin Hakim, September 22, 2021 The Evergrande Group, China’s second largest property developer, informed the country’s ministry of housing that it would not be able to issue payments on its loan interest by a September 20 deadline, Bloomberg reported, drawing greater concern over the company’s cash problems. As anger from homebuyers and investors continues to… Continue Reading
Real Estate Chinese Real Estate Giant Evergrande Nearing Collapse As Market Braces For Ripple Effects Christin Hakim, September 18, 2021 Hong Kong A potential crisis is brewing in China’s real estate market. China Evergrande Group, the second-largest property developer in the country, will miss at least some of its debt payments this month and is at serious risk of default, Reuters reports. Evergrande has a total of $305B in liabilities… Continue Reading