China Vanke Sells Former HQ Land at Huge Loss to Cut Debt
Tuesday, 28 May 2024, 05:19
China Vanke Sells Land at Significant Loss
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.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.