Property News · January 25, 2022

Embattled developer Kaisa Group to resume construction at project in Foshan after receiving funds held in escrow accounts


Embattled Chinese developer Kaisa Group has pledged to resume construction at a project in Foshan in the southern province of Guangdong after funds held in escrow accounts were returned to it.The development comes hot on the heels of reports last week that China was moving to ease a severe crash crunch in the property sector, giving developers much-needed breathing space.“After friendly negotiations with the government and regulatory banks, the presale payments [for the project] have been…

Source : South China Morning Post
Read more…Embattled developer Kaisa Group to resume construction at project in Foshan after receiving funds held in escrow accounts

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