Soho China Offers Properties at 30% Discount to Cover Debts

What’s new: Chinese developer Soho China is offering 32,000 square meters of residential and commercial properties in Beijing and Shanghai at a 30% discount.

The proceeds will be used to repay debt and won’t be used for dividends, Soho China Chairman Pan Shiyi said Thursday in an online pitch for the properties to real estate agents.

Buyers will be required to pay in full, and mortgage loans won’t be accepted, Caixin learned.