New | Troubled developer Kaisa fails to get sales ban removed at meeting

Troubled mainland property developer Kaisa Group Holdings failed to remove a block on sales at its Shenzhen projects during talks with government officials on Monday.

A Kaisa executive said top managers from the company met senior Shenzhen government officials in Longgang district, where two of Kaisa's new projects are blocked.

"There was no progress at all at the meeting," he said.

A Shenzhen official told homeowners the government "needs some time to resolve this incident" because the Kaisa case was linked to the crackdown on corruption, the Wen Wei Po newspaper reported on Monday, citing a deputy director of a government bureau that deals with public complaints.

The Kaisa source said he was not at the meeting but was briefed on the discussions by those who were. Negotiations were continuing, he said.

A Kaisa spokeswoman said she was not aware of the talks. Shenzhen's Urban Planning, Land and Resources Commission was not available for comment.

Kaisa is struggling after several senior executives left unexpectedly and the authorities blocked sales at some of its projects in Shenzhen late last year.