Property News · January 3, 2019

Chinese developer Kaisa’s Xian fallout highlights shanty town redevelopment risks


Shares of mainland Chinese developer Kaisa Group Holdings tumbled another 4.3 per cent on Thursday after a 7.2 per cent drop a day earlier as it faces losing its investment in an urban redevelopment project in northern Xian city, highlighting the inherent risks in such deals.
The Shenzhen-based developer has invested more than 1 billion yuan (US$150 million) in the project to transform a shanty town into a residential estate before a local developer Xian Xingzhengyuan, which Kaisa is fighting…

Source : South China Morning Post
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