Embattled Shimao Gears Up Asset Sales for Debt Relief
Chinese developer Shimao Group Holdings Ltd. (00813.HK) is moving to offload 34 projects, joining a growing parade of developers seeking to ease liquidity crises by selling assets.
The assets up for sale include residential, office, commercial and hotel projects wholly or partly owned by Shimao, according to documents seen by Caixin. The projects are in 17 cities including Beijing, Shanghai and Hangzhou and in the Greater Bay Area. Shimao didn’t comment.
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