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Country Garden offloads overseas projects to address debt woes
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Country Garden, once China’s No. 1 developer by sales, has been offloading assets to address a debt crisis.
PHOTO: AFP
Wang Jing and Han Wei
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BEIJING - China’s embattled property developer Country Garden Holdings is ramping up overseas asset sales as the company struggles to raise cash to address its debt woes.
The Guangdong-based developer has listed a residential development project in East London for sale, British media reported last week. The divestiture came after Country Garden offloaded two projects in Australia.
