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
[HONG KONG] Parkview Group has secured a US$940 million loan refinancing deal backed by a key Beijing asset, according to sources familiar with the matter, ending a months-long saga that had weighed on the Hong Kong developer amid China’s prolonged property crisis.
The new loan has a one-year tenor and carries an additional extension option of up to two years, said the sources, who asked not to be identified discussing private matters. The facility, backed by the Parkview Green complex in Beijing’s Chaoyang district, refinances an identical-sized borrowing that underwent two extensions, in August and November, this year.
The latest exercise provides crucial breathing room for Parkview, which faced the risk of default had lenders demanded immediate repayment at maturity. Banks had expressed concern that the Beijing property was not generating sufficient cash flow to cover debt obligations.
A spokesperson for Parkview did not immediately respond to a request for comment.
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. Used-home prices in top-tier cities are projected to drop another 10 per cent in 2026 and 5 per cent in 2027 unless Beijing introduces major stimulus measures, according to John Lam, UBS Group’s head of China property research.
The Hong Kong builder had put its Parkview Green complex, known for its glass architecture and collection of contemporary art, up for sale last year. But so far, there is no potential buyer, Bloomberg News reported earlier.
Beyond Parkview Green, the company’s portfolio includes the Hong Kong Parkview residential complex and Le Beauvallon – The Bay of Saint Tropez in France, according to its website. BLOOMBERG
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