The design by Guangzhou R&F Properties for the new Kai Tak Sports Park in Hong Kong, featuring a retractable natural grass pitch. The pitch ultimately was won by New World Development. Photo: SCMP Pictures.
The design by Guangzhou R&F Properties for the new Kai Tak Sports Park in Hong Kong, featuring a retractable natural grass pitch. The pitch ultimately was won by New World Development. Photo: SCMP Pictures.

China property debt crisis: R&F warns its asset sales may not meet bond repurchase deadline in a slumping real estate market

  • The Guangzhou-based developer said proceeds from some asset sales may fail to materialise by January 10 for repurchasing notes from offshore bondholders
  • Creditors holding almost 72 per cent of theUS$725 million bonds vote for 17 per cent discount on principal to receive proceeds earlier

The design by Guangzhou R&F Properties for the new Kai Tak Sports Park in Hong Kong, featuring a retractable natural grass pitch. The pitch ultimately was won by New World Development. Photo: SCMP Pictures.
The design by Guangzhou R&F Properties for the new Kai Tak Sports Park in Hong Kong, featuring a retractable natural grass pitch. The pitch ultimately was won by New World Development. Photo: SCMP Pictures.
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