{"id":103986,"date":"2019-02-14T17:42:01","date_gmt":"2019-02-14T10:42:01","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinas-credit-crunch-pressures-cimg-into-discounted-sale-of-key-land-plot-in-shanghai\/"},"modified":"2019-02-14T18:03:04","modified_gmt":"2019-02-14T11:03:04","slug":"chinas-credit-crunch-pressures-cimg-into-discounted-sale-of-key-land-plot-in-shanghai","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinas-credit-crunch-pressures-cimg-into-discounted-sale-of-key-land-plot-in-shanghai\/","title":{"rendered":"China\u2019s credit crunch pressures CIMG into discounted sale of key land plot in Shanghai"},"content":{"rendered":"


\nTroubled investment conglomerate China Minsheng Investment Group (CIMG) sold its remaining stake in a prime plot of land in Shanghai at a discount on Wednesday, after a bond default drew attention to the company\u2019s liquidity shortfall.
\nThe firm made full payment to its creditors after the deal, sources said.
\nCIMG sold its 50 per cent stake in the central Shanghai site known as Dongjiadu, on the west bank of the Huangpu River, to Greenland Holdings for 12 billion yuan (US$1.8 billion).
\nThe…
\n
\nSource : South China Morning Post
\nRead more…China\u2019s credit crunch pressures CIMG into discounted sale of key land plot in Shanghai<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Troubled investment conglomerate China Minsheng Investment Group (CIMG) sold its remaining stake in a prime...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-103986","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-r3c","jetpack-related-posts":[{"id":21072,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gemdale-is-new-land-king-with-8-8-billion-yuan-purchase-of-shanghai-plot\/","url_meta":{"origin":103986,"position":0},"title":"Gemdale is new \u2018land king\u2019 with 8.8 billion yuan purchase of Shanghai plot","date":"July 27, 2016","format":false,"excerpt":"\r Gemdale Group on Wednesday morning beat out more than 20 bidders to snap up a plot of land near Shanghai\u2019s Pudong International airport for 8.8 billion yuan (HKD$ 10.2 billion), the most expensive site sold in Shanghai this year.\r \r Source : South China Morning Post\r Read more...Gemdale is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":89991,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-developers-finalists-in-battle-for-us2-1-billion-site-in-shanghai-shopping-heartland\/","url_meta":{"origin":103986,"position":1},"title":"Hong Kong developers finalists in battle for US$2.1 billion site in Shanghai shopping heartland","date":"May 31, 2018","format":false,"excerpt":"\r Hong Kong developers Shui On Land and Hongkong Land are vying for a prime plot of land in central Shanghai, a move that underscores the rising appeal of China\u2019s top cities among overseas companies. Two companies have entered the final stage of bidding for the land, according to a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":114399,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hongkong-land-pays-a-record-31-billion-yuan-for-shanghai-land-plot-as-it-continues-its-search-for-growth-in-mainland-china\/","url_meta":{"origin":103986,"position":2},"title":"Hongkong Land pays a record 31 billion yuan for Shanghai land plot as it continues its search for growth in mainland China","date":"February 20, 2020","format":false,"excerpt":"\r Hongkong Land Holdings Limited, a unit of one of the biggest British conglomerates of the colonial era, has paid a record price for a piece of mixed-use land in Shanghai, as the real estate developer continues its search for growth in mainland China.The 50-per cent owned unit of Jardine\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":131399,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/brookfield-gets-ready-for-shanghai-rental-project-as-chinas-property-distress-creates-opportunities-to-pick-up-discounted-assets\/","url_meta":{"origin":103986,"position":3},"title":"Brookfield gets ready for Shanghai rental project as China\u2019s property distress creates opportunities to pick up discounted assets","date":"November 7, 2022","format":false,"excerpt":"\r Brookfield, a Canadian firm with US$750 billion of assets, is launching its first rental project amid signs of recovery and policy support. Distressed prices have allowed the firm to establish a beachhead in China.\r \r Source : South China Morning Post\r Read more...Brookfield gets ready for Shanghai rental project\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40183,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinas-cooling-measures-mean-smaller-developers-dont-stand-a-chance\/","url_meta":{"origin":103986,"position":4},"title":"China\u2019s cooling measures mean smaller developers don\u2019t stand a chance","date":"January 10, 2017","format":false,"excerpt":"\r The rich get richer Parcels of land on the outskirts of Shanghai are being acquired at record-low prices. redstone\/Shutterstock Plots of land in several mainland China cities are rapidly being snapped up by the country\u2019s leading developers at knock-down prices, with cooling measures meaning smaller firms scarcely get a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":31860,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-else-does-superman-li-own-in-china-after-his-20-billion-yuan-shanghai-sale\/","url_meta":{"origin":103986,"position":5},"title":"What else does Superman Li own in China after his 20 billion yuan Shanghai sale?","date":"October 27, 2016","format":false,"excerpt":"\r Tycoon Li Ka-shing\u2019s sale of a Shanghai property complex this week is the latest move in almost three years of assets disposal, as he charts his exit from mainland China\u2019s surging real estate market in search of steady cash flow. 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