Bondholders for one of China’s biggest real estate developers extended a grace period to negotiate a delayed repayment of a $285 million bond.
Category: Country Garden
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China Vanke Forecasts $6.2 Billion Loss, Replaces Top Executives
China Vanke, one of the country’s largest developers, cleared out its top executives and said it anticipates a $6.2 billion loss, a sign the property meltdown is still raging.
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In a Malaysian Pop-Up City, Echoes of China’s Housing Crash
Forest City was an audacious $100 billion project by a top Chinese developer. Today, the project is a fraction of what had been planned and the developer is broke.
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China’s Country Garden Faces Winding Up Petition In Hong Kong
Country Garden was once China’s biggest developer but ran out of money. A lender is taking it to court in Hong Kong, a sign of continuing market distress.
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After China Evergrande, Real Estate Crisis ‘Has Not Touched Bottom’
The forced liquidation of China Evergrande epitomizes the sector’s struggles: Nationwide, sales are down and millions of homes have been paid for but not delivered.
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Hong Kong Stocks Plunge to Losses for 4th Straight Year
Investors worried about China’s economy shunned Hong Kong’s stock market, once one of the biggest and most important in the world.
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Country Garden Says Executives Have Not Fled China
The company, one of China’s biggest property developers, took the unusual step of stating that the company’s founder and its chairwoman were “working normally.”
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China Bet It All on Real Estate. Now Its Economy Is Paying the Price.
After relying on a borrow-to-build model for decades, Beijing must make difficult choices about the country’s housing market and economic future.
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Country Garden, Chinese Real Estate Giant, to Miss Debt Payments
The property giant is effectively declaring that it has defaulted on its debt, becoming one of the biggest casualties of China’s deepening property crisis.
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Country Garden, China’s Indebted Developer, Meets Payment Deadline
The embattled Chinese property giant is said to have avoided default by meeting a deadline to pay interest on small loans. But it must repay billions within the next year.
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China’s Biggest Homebuilder Fights to Survive as Economic Crisis Deepens
Once considered a survivor of China’s real estate turmoil, Country Garden is now at the center of the crisis and threatens the broader economy.
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China’s Country Garden Sells Stock to Pay Debts
Country Garden is teetering on the brink of default with $190 billion in debt, in a sign of the country’s rapidly spreading real estate crisis.