Property News · April 8, 2024

Shimao Group faces winding-up petition from China Construction Bank, signalling developer is in ‘serious debt trouble’


Troubled property developer Shimao Group Holdings is facing a liquidation suit brought by China Construction Bank, the country’s second-largest lender, for a financial obligation amounting to around HK$1.58 billion (US$201.8 million).

Source : South China Morning Post
Read more…Shimao Group faces winding-up petition from China Construction Bank, signalling developer is in ‘serious debt trouble’