Caixin
May 06, 2022 02:36 PM
BUSINESS

In Depth: Cutting the Ties That Bind Property Managers to Developers

Property workers lay flowers at a gate of a residential area in Shenyang, capital of Northeast China's Shenyang, on April 29. Photo: VCG
Property workers lay flowers at a gate of a residential area in Shenyang, capital of Northeast China's Shenyang, on April 29. Photo: VCG

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.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
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