Property News · March 26, 2020

Mainland developers including Poly Property, China Resources accelerate sales to shore up cash flow to minimise impact of Covid-19


Some of China’s biggest developers are set to accelerate sales and shorten their construction cycles to shore up cash flow in response to the economic fallout from the Covid-19 outbreak.Four mainland Chinese builders reported higher profit growth for 2019 on Thursday, but said they are braced for hard times ahead as the deadly epidemic squashes market demand. Many property developers have seen sales plummet in the first two months of 2020.Poly Property Group, whose property sales fell 25.6 per…

Source : South China Morning Post
Read more…Mainland developers including Poly Property, China Resources accelerate sales to shore up cash flow to minimise impact of Covid-19