Property News · January 3, 2019

Kaisa says its US$150 million Xi’an development project is at risk over dispute with local developer Xingzhengyuan


Kaisa Group Holdings faces losing its entire investment of almost US$150 million in a key urban redevelopment project, underscoring the vagaries in China’s property market.
The Shenzhen-based home builder, which gained notoriety in 2015 when it became the first developer from the nation to default on US dollar debt, has invested more than 1 billion yuan (US$146 million) in a project in Xi’an to transform a shanty town into residential dwellings.
The project had been abandoned for…

Source : South China Morning Post
Read more…Kaisa says its US0 million Xi’an development project is at risk over dispute with local developer Xingzhengyuan

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