Dec 07, 2021 04:01 AM

FINANCE

Indebted Developer Kaisa Sells HK Office for Debt Repayment

By Zhou Wenmin and Han Wei

The financial woes of Kaisa came under the spotlight after the company abruptly canceled meetings with investors in October

The financial woes of Kaisa came under the spotlight after the company abruptly canceled meetings with investors in October

Kaisa Group Holdings Ltd. (01638.HK) is offloading more assets to alleviate a liquidity crunch as the Chinese developer struggles with deepening debt woes and an imminent default risk.

Hong Kong-listed Kaisa sold the 38th floor of The Center, one of Hong Kong's tallest skyscrapers in the city’s central business district, for HK$750 million ($96.2 million) to China Shandong Hi-Speed Financial Group to settle part of an outstanding loan, Shandong Hi-Speed said in a filing over the weekend.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: Asia New Vision Forum Kicks Off in Singapore

NEWSLETTERS

Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription

PODCAST

Caixin Deep Dive: Former Securities Regulator Yi Huiman’s Corruption Probe

00:00

00:00/00:00

MOST POPULAR

1: China, U.S. to Meet in Spain Over TikTok, Trade Disputes

2: Cover Story: Why Modi Won’t Play Cowboys and Indians With Trump, Opting Instead for Strategic Autonomy

3: AI Offers Hope for Growth, but Global ‘Disorder’ Poses Major Risks, Lawrence Summers Says

4: Stability, Openness and Inclusiveness Are Key to an ‘Asian Century,’ Singapore Deputy PM Says

5: Weekend Long Read: Tycoon’s Eight-Hour Escape Exposes Failings of a Model Chinese Prison

SPONSORED

OR