Chinese developers' shares and bonds stumbled on Tuesday on worries over spreading financial contagion, as sources said one of the country's top 20 homebuilders is seeking a new extension for its onshore debts.
Dubai property tycoon Hussain Sajwani's investment vehicle said on Monday he and "associated group members" now own 91.65% of DAMAC Properties in a buyout of minority shareholders expected to be completed by the end of March.
Saudi Real Estate Refinance Company (SRC) has signed a partnership agreement with Real Estate Development Fund (REDF) to refinance a real estate portfolio worth 10 billion riyals ($2.7 billion), SRC said in a statement.
Chinese developer Modern Land (China) said on Monday a default on a bond repayment last week has pulled forward repayment dates for a further $321 million worth of notes, and the company withdrew an interim dividend to hold on to cash.