In Depth: Cutting the Ties That Bind Property Managers to Developers
As China’s worst Covid-19 outbreak in two years prolongs the country’s property slump and starves stressed developers of cash, their property management units are increasingly separating themselves from troubled parents.
In China, big developers usually set up property service units to manage their projects. But as more and more developers face liquidity crises, the property management units’ profits are suffering amid unpaid receivables from the parents, and they are seeking outside revenue.
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