Property News · December 25, 2020

Developer Agile sells stakes worth US$1.08 billion in seven Chinese property projects to Ping An to raise cash needed to dodge new borrowing restrictions


Chinese property developer Agile Group Holdings is selling stakes worth 7.05 billion yuan (US$1.08 billion) in seven property projects to Ping An Insurance Group, a move that should bring it much needed cash before a regulatory hurdle for borrowing takes effect and allow Ping An to deepen its footprint in China’s vast property market.Hong Kong-listed Agile is selling its interests in the developments, mainly in southern and east-central parts of mainland China, to a group of Ping An…

Source : South China Morning Post
Read more…Developer Agile sells stakes worth US.08 billion in seven Chinese property projects to Ping An to raise cash needed to dodge new borrowing restrictions