Property developers

Vanke sweetens bond extension proposal to avert debt default

The developer is also seeking to extend repayment grace period to 30 days

The property giant’s woes highlight broader challenges in China as the real estate crisis enters its fifth year.

China Vanke faces reality check as bond extension talks drag on

Financial institutions including banks have in general become less patient with struggling developers

The setback for state-backed Vanke comes after some of the country’s best-known developers have defaulted in recent years.

China developer Vanke plans second bondholders’ meeting to avoid onshore default

The bond tranche is due on Monday and has a five-business-day grace period

Gallant Tang, group CEO of SingHaiyi Group, is keen to explore new asset classes in different markets.
BEHIND THE NAME

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How a heart-pounding tender win and a baptism of fire during the pandemic moulded SingHaiyi’s new leadership

Vanke’s onshore notes were trading deep in distressed levels at around 20 to 30 yuan per 100 face value.

China Vanke bondholders reject payment extension, raising default risk

The rejection grants the developer 5 business days to pay the 2 billion yuan on the onshore bond

Developers are increasingly signalling that they are ready to enter a new growth phase, DBS Research says.

DBS bullish on developers, hikes up target prices for CDL, UOL, GuocoLand  

The increase comes on lower interest rates and plans by these firms to recycle capital and rejuvenate assets

Some projects, such as Sim Lian's Emerald of Katong, saw a much higher than average number of sales to agents.
NEWS ANALYSIS

Property agents bought up to 20% of some new condo launches: did ‘first dibs’ buying heighten Fomo?

Such activity does not breach regulations, but some in the industry are concerned that it crowds out the public

The debt extension is a critical part of Vanke’s strategy to relieve liquidity stress and mitigate default risk.

China Vanke aims to avoid default as bondholder vote begins

The company needs approval from holders of at least 90% of the amount owed

Parkview’s challenges reflect the broader strains in China’s real estate industry, where falling values have eroded confidence in assets once considered reliable collateral.

Hong Kong builder Parkview secures US$940 million loan refinancing

Used-home prices in top-tier cities are projected to drop another 10% in 2026

In 2020, Japan’s Mitsui Fudosan backed one of RMZ’s office projects in Bengaluru (above), the country’s technology hub.

Indian property developer RMZ weighing US$1 billion IPO: sources

The offering is likely to take place later next year, they add