Property News · March 23, 2017

Soho drops plan to sell Hongkou property, snared by China’s capital control rules


Soho China Ltd, the biggest commercial developer in the Chinese capital, said it’s been forced to abandon its sale of a Shanghai property to a foreign buyer, becoming the latest company to be snared by the country’s capital control regulations.
Soho had to drop the sale of Soho Hongkou, an office-and-commercial project with 950,000 square metres of usable space in Shanghai, according to the company’s founder and chairman Pan Shiyi.
“I wrote a letter to the buyers to…

Source : South China Morning Post
Read more…Soho drops plan to sell Hongkou property, snared by China’s capital control rules

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