Property News · November 1, 2018

China’s 100,000 property developers are bracing for an industry shakeout as economic growth sputters


The marketing materials for Ruyi Island, a man-made chunk of land about three miles (five kilometres) northeast of the capital of China’s Hainan province, depict a utopia for the wealthy. An artist’s impression shows families strolling along marina boardwalks strung with fairy lights and villas nestled around palm tree-lined lagoons.
In reality, Ruyi Island – five years after construction started – remains a huge sand bank, a few cranes sitting idle. Its developer, Beijing-based…

Source : South China Morning Post
Read more…China’s 100,000 property developers are bracing for an industry shakeout as economic growth sputters

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