Property News · April 24, 2019

Mainland developer Jiayuan is ‘stuck’ in the build-to-borrow cycle


Mainland developer Jiayuan International was able to secure a credit line worth more than 43 billion yuan (HK$50 billion) to fund expansion, but industry players say the deal only highlights the predicament that forces China’s property firms to keep borrowing.Jiayuan, which co-developed the nano-flat project T Plus in Hong Kong, was granted its line of credit from four institutions, ­Baoshang Bank, Daye Trust, ­Guotong Trust and AVIC Trust.The financing includes private placement notes…

Source : South China Morning Post
Read more…Mainland developer Jiayuan is ‘stuck’ in the build-to-borrow cycle

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