Finally a resolution — of sorts. Then again, we have been here before. Over the weekend, troubled Hong Kong-listed developer Kaisa confirmed that it will sell some of its Shanghai projects to peer Sunac for about $380m in a bid to raise cash.
The company, most of whose Shenzhen business has been put on hold by the local government, has just over a week to service a bond held by offshore investors.
Although small, the land sales are encouraging in that they bring some much-needed consolidation to the sector. However, it is not a done deal and a similar plan for the sale of a $190m land parcel to blue-chip developer China Vanke fell through in January.
您已閱讀75%（656字），剩余25%（213字）包含更多重要信息，訂閱以繼續探索完整內容，并享受更多專屬服務。