Vanke Sells Headquarters Project for $309 Million to Raise Cash bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
China Vanke has sold a plot of land once earmarked for its new headquarters in Shenzhen for 2.24 billion yuan (US$309 million), almost 30 per cent less than it paid in 2017, as the beleaguered property developer strives to pay down its mountain of debt.
Cash-strapped China Vanke
has sold a Shenzhen land plot via auction for 2.24
billion yuan , a filing on Monday showed, more
than 27% below the price it paid for the same 19,000
square-metre block.
China Vanke Sells Shenzhen Land Plot at Loss-Making Reserve Price usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
Vanke is working to raise funds after saying last month it is facing short-term liquidity pressure, one of many companies to have been caught up in a broad-based cash crunch in China s crisis-hit real estate sector.