When we think of the wealthiest people in the world, we typically picture the stereotypical real estate moguls or investment bankers with fancy suits. But, believe it or not, plenty of millionaires.
The sale was much needed by Kaisa, which ranks as the second-largest Chinese debtor on the offshore bond market, with US$11.4 billion of outstanding bonds and US$200 million of perpetual notes due in 2026.
HONG KONG - After years of expansion in Hong Kong, cash-strapped Chinese developers are reducing their presence in one of the world's most expensive property markets, allowing firms in the financial hub to scoop up some of their assets at distressed prices. Developers including China Evergrande Group and Kaisa Group Holdings Ltd, struggling under billions of dollars in debt, have.
By Clare Jim HONG KONG (Reuters) - After years of expansion in Hong Kong, cash-strapped Chinese developers are reducing their presence in one of the w.