property

The Chinese property giant's debt woes will not seriously affect China’s property sector, according to analysts; however, a restructuring might be on the cards.

The Chinese property giant had been placed into liquidation by Hong Kong's High Court in January 2024.

The firm saw net asset values decline across the financial year, however net property income and revenues grew, with high occupancy rates amid challenging conditions.

The investment in the Apac serviced apartment and rental housing firm could be worth as much as $150m, with the money set to help expand Dash Living's footprint in the region, in particular in Japan.

The CEO and chairman have stepped down as the company looks to solve "temporary liquidity difficulties", in part through the support of its largest shareholder, the state-owned Shenzhen Metro Group.

As part of the nascent Apac living sector, multifamily asset purchasing has been increasing in Japan, bolstered by a rebound in tourism, low interest rates and strong rental growth.

The deal is expected to close by the end of Q1 2025 with its shares to stop trading on the NYSE; majority shareholders TPG and KKR have approved the deal. EQT has also bought a Korean plastic recycler and is looking to raise $12.5bn for a fund.

Non-bank lenders, such as private equity, are set to take up the slack from banks in extending credit to commercial real estate in Asia Pacific.

Following a Rmb300bn lending boost for unfinished flats from the PBOC, BNP Paribas analysts believe a bottom for property prices might be reached in the second half of 2025.