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China Government Buys a Hyatt Property From Struggling Developer

Chinese developer Shimao Group said on Friday it would sell a hotel in Shanghai to state-owned Shanghai Land Group for $707.83 million.

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China s Shimao sells Shanghai hotel for $708 million to state-owned firm

Chinese property developer Shimao Group said on Friday it would sell a hotel in Shanghai to state-owned Shanghai Land Group for 4.5 billion yuan , as it seeks to reduce its debt amid a crisis in. | January 28, 2022

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