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NEW YORK, Aug 18, 2023 (AFP) – Embattled Chinese property giant Evergrande Group filed for bankruptcy protection in the United States on Thursday, court documents showed, a measure that protects its US assets while it attempts to restructure. Evergrande, once China’s top property developer, was found in 2021 to be struggling with more than $300 billion in liabilities, as it came under intense pressure after officials tightened scrutiny on the real estate industry. The company’s […]
Beijing, China | AFP | Embattled property giant China Evergrande has sold land earlier earmarked for its headquarters in the southern tech hub Shenzhen for $1 billion, according to an official document, as it fights for survival. The real estate behemoth has been involved in restructuring negotiations after racking up $300 billion in liabilities following Beijing’s crackdown on excessive debt and rampant speculation in the property sector. The 10,377-square-metre (111,700-square-foot) land in Nanshan district was sold […]
LONDON, United Kingdom (AFP) — UK property prices hit a record peak last month as Britons sought more space during the pandemic, data showed Tuesday, with demand stimulated also by temporary tax cuts. The average sale price rose by 5.4 percent to a record £230,700 (270,000 euros, $320,000) in June from a year earlier, lifted also by a supply shortage, property listings website Zoopla said in a statement. That was almost a third higher than […]
by Kerry Sheridan © Agence France-Presse SARASOTA, United States (AFP) — Along sun-splashed shorelines in the US state of Florida, home prices are on the rise, developers are busy building new complexes, and listings just blocks from the beach describe homes that are “not in a flood zone,” meaning no flood insurance is required. But experts warn that ignoring sea level rise won’t prevent a looming economic crisis caused by water-logged homes that will someday […]
LOS ANGELES, United States (AFP) — Pop superstar Katy Perry on Friday was awarded nearly $1.5 million as she prevailed anew in her drawn-out bid to move into a former convent in Los Angeles. The singer of “Roar” and “I Kissed a Girl” has more Twitter followers than anyone else in the world at 106 million but had struggled to win the hearts of two elderly nuns who used to live in the convent. The […]
