Evergrande Ordered to Pay $1.1B Debt
Chinese real estate firm Evergrande, which is in financial trouble, reports that one of its subsidiaries has been sentenced to pay 7.3 billion yuan ($1.08 billion) in damages for breaching … Read more
Real Estate Industry
Evergrande Ordered to Pay $1.1B Debt
Chinese real estate firm Evergrande, which is in financial trouble, reports that one of its subsidiaries has been sentenced to pay 7.3 billion yuan ($1.08 billion) in damages for breaching … Read more
Surfside Condo Collapse Site Sells For $120M To Trump Linked Developer
A Dubai billionaire and business partner of former United States President Donald Trump has bought the Surfside condo collapse site for $120 million. Hussain Sajwani, the owner of DAMAC Properties, … Read more
Trading Halts for 33 Hong Kong Firms After Earnings Delay
The Hong Kong stock exchange suspended trading for 33 firms over a delay in declaring their annual earnings. Major Chinese developers Shimao Group, Sunac China, and Kaisa Group are among … Read more
Singapore to Launch Incentive Scheme to Encourage Greening of Properties
Singapore will launch a S$63 million ($46 million) incentive scheme that will help owners retrofit their buildings to become more energy-efficient. The Green Mark Incentive Scheme for Existing Buildings 2.0 … Read more
WeWork IPO’s at $9B Valuation
WeWork has started trading two years after an aborted IPO with a $9B valuation. WeWork, which had just finished merging with BowX Acquisition Corp was listed New York Stock Exchange … Read more
Fitch Downgrades Evergrande Group, Units to ‘Restricted Default’
Fitch Ratings announced on Thursday that it downgraded China Evergrande Group and its subsidiaries to “restricted default” after the heavily indebted developer had missed an important interest payment this week. … Read more
Evergrande Braces for Debt Restructuring
China Evergrande Group had signaled that it is already planning to negotiate a debt restructuring with offshore creditors as it faces another potential default on Monday. Evergrande said in a … Read more
UK House Prices Rise More than Expected
Price of homes in the U.K. rose more than expected in November due to pandemic-driven demand and shortages in houses for sale, Nationwide Building Society said on Wednesday. Average home … Read more
Evergrande Founder Hui Ka Urged to Use Personal Wealth On Company Debt
Beijing has told the founder of the embattled Evergrande group to use his own money to lessen the company’s massive debt after the company’s crisis brought attention to billions of … Read more