Jan 30, 2024 06:22 AM

FINANCE

Country Garden Offloads Overseas Projects to Address Debt Woes

By Wang Jing and Han Wei

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Country Garden, once China’s No. 1 developer by sales, has been offloading assets overseas to address a debt crisis

Country Garden, once China’s No. 1 developer by sales, has been offloading assets overseas to address a debt crisis

China’s embattled property developer Country Garden Holdings is ramping up overseas asset sales as the company struggles to raise cash to address its debt woes.

The Guangdong-based developer has listed a residential development project in East London for sale, British media reported last week. The divestiture came after Country Garden offloaded two projects in Australia.

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