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Hong Kong property firms pick up assets on the cheap from stricken mainland Chinese developers


Mid-sized Hong Kong property firms are picking up residential plots at heavily discounted prices from cash-strapped mainland Chinese developers who are speeding up asset sales to repay debt.Far East Consortium International recently snapped up two land parcels, one of which was from the heavily indebted Kaisa Group Holdings.“We may allocate more resources to increase our land bank in Hong Kong after we cashed in on our overseas property investments,” Chris Hoong Cheong Thard, managing director…

Source : South China Morning Post
Read more…Hong Kong property firms pick up assets on the cheap from stricken mainland Chinese developers

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