Thu 03/14/2024 05:05 AM
Gemdale Group is planning to sell certain projects in Xi’an with potential buyers lined up including central state-owned enterprises such as China Overseas Holdings and China Resources Group, and proceeds planned for repayment of upcoming debt maturities, according to five sources familiar with the matter.
Gemdale is talking to China Overseas to sell a land parcel in Xi’an which could generate over CNY 2 billion ($278 million) net proceeds for Gemdale, and the company plans to use the...
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