Searching for the Least Rotten Apples

A survey of property developers’ annual results from 2021 reveals the first total decline in interest-bearing debt within the sector on record. Servicing this debt has become more difficult given developers’ declining cash positions, and rising proportions of cash held in escrow accounts. In general, financial institutions continue to shun property developers, despite authorities’ guidance to maintain credit lines. In 2022, most participants in the land market are state-owned firms, with a few notable private names still active.

Posted May 23, 2022
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