Caixin
Jan 11, 2022 04:22 AM
BUSINESS

Developer Agile Agrees to Sell 14 Properties for $439 Million

What’s new: Hong Kong-traded developer Agile Group Holdings Ltd. entered agreements to sell 14 noncore properties for 2.8 billion yuan ($439 million) in the second half of last year, according to a Hong Kong stock exchange filing.

The company said it collected 1.15 billion yuan of proceeds from the sales in 2021 and expects to collect the remaining 1.65 billion yuan in 2022, which will be used as general working capital. Agile joined other cash-strapped Chinese developers in selling assets to raise funds and avoid defaulting.

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