Hidden Debt Fears Unravel Lucrative Lifeline for China Builders
- Urban redevelopment projects now a burden for cash-poor firms
- Logan, Times China among firms scrutinized over such works
Chinese property developers has become a burden as the industry’s credit crunch intensifies.
Source: Visual China Group/Getty Images
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What used to be a gold mine for Chinese property developers has become a burden as the industry’s credit crunch intensifies.
Urban redevelopment projects, which turn run-down areas into new properties in big cities, were sought after by developers like Logan Group Co. and Times China Holdings Ltd. in recent years for their prime locations and hefty margins.