‘Evergrande’, the giant of the Chinese real estate sector, is on the verge of bankruptcy as the company is indebted under the enormous amount of $300bn.
The news of possible bankruptcy is sending shockwaves around the globe as the implications of bankruptcy transcend beyond the borders of China.
According to the experts, the financial situation of the Evergrande has emerged as a test for the Chinese financial system as the real estate giant is facing difficulties in managing its cash flows.
Meanwhile, banks like HSBC and Standard Chartered in Hong Kong have declined the request for debt servicing owing to the deteriorating financial situation of the real estate company.
The impact of bankruptcy will trickle down to the various stakeholders, including banks, suppliers, homebuyers, and investors.
The company has 1300 real estate projects in China and is present in 280 cities of China. Furthermore, the property service management arm of the company is involved in more than 2800 projects in 310 cities of the country.
For news and blogs, visit Graana.com.
Islamabad: The Capital Development Authority (CDA) has officially begun handing over developed plots to allottees…
Islamabad: The federal government has given the green light to extend Margalla Highway from GT…
Faisalabad: The Faisalabad Development Authority (FDA) has successfully integrated all property records under its jurisdiction…
Karachi: Minister for Maritime Affairs, Muhammad Junaid Anwar, has invited local and international investors to…
Multan: Punjab Chief Minister Maryam Nawaz Sharif has approved the Multan Avenue development project under…
Karachi: Federal Minister for Communications Abdul Aleem Khan has expressed concern over the poor state…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
