China: What Cinda’s financing model means for the property sector
Is this the new normal? State-owned enterprises using their financial muscle to amass land as an asset rather than for its development potential When little-known mainland developer Cinda Real Estate snapped up a plot of land in suburban Shanghai in June for four times the starting bid price, it highlighted a new normal in the real-estate business — state-owned enterprises using their financial muscle to amass land as an asset, rather for its development potential. Read more on: www.scmp.com
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