Property News · March 3, 2017

CC Land expects to tumble into the red


Chinese property developer CC Land Holdings, the new owner of London’s landmark building “Cheesegrater”, says it expects to incur a loss for last year.
The company said in a filing to the Hong Kong stock exchange on Friday it expected to report a net loss of HK$385 million (US$49.6 million), compared to a profit of HK$1.4 billion for 2015.
The developer, based in Chongqing, said the losses were due to significant drops in recognised revenue and disposal gains.
On Wednesday, CC…

Source : South China Morning Post
Read more…CC Land expects to tumble into the red

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