Property News · January 4, 2021

R&F pledges stakes with US$10 billion in assets under Guangzhou authority’s ward to avoid falling foul of ‘three red lines’ on debt


Shares of Guangzhou R&F Properties tumbled by more than 3 per cent after a report that the developer had pledged its stakes in three companies with US$10 billion in combined assets to a unit under the Guangzhou city authorities to meet government limits on debt exposure.The pledges to Guangzhou City Construction Investment Group comprise a 25 per cent stake in Sheungjin Real Estate Development, which owns a six-year-old office project Yingkai Square at Tianhe district; 50 per cent of Guangzhou…

Source : South China Morning Post
Read more…R&F pledges stakes with US billion in assets under Guangzhou authority’s ward to avoid falling foul of ‘three red lines’ on debt

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