(Reuters) – Embattled property developer Sunac China on Thursday said a private credit firm will invest 2.48 billion Chinese yuan ($340.34 million) into restructuring debts for the Chongqing Project. The project focuses on residential and commercial properties for sale, most of which have not yet been developed. ($1 = 7.2869 Chinese yuan renminbi) (Reporting by […]
Business
Sunac China brings in new investor to restructure Chongqing Bay project
Audio By Carbonatix
(Reuters) – Embattled property developer Sunac China on Thursday said a private credit firm will invest 2.48 billion Chinese yuan ($340.34 million) into restructuring debts for the Chongqing Project.
The project focuses on residential and commercial properties for sale, most of which have not yet been developed.
($1 = 7.2869 Chinese yuan renminbi)
(Reporting by Rishav Chatterjee in Bengaluru; Editing by Vijay Kishore)