Property market faces “less money more land” in ’08

Chinese real estate developers could encounter trouble financing land purchases this year, Pan Shiyi, chairman and founder of real estate developer SOHO China (0410.HK), told China Securities News. “The property market in China would see a situation of ‘less money more land’ in 2008,” he said. Many developers currently have more than 70% of their debt coming due in the next year and government lending curbs are making it harder for them to fund their projects. Pan’s comments came weeks after ...

	Property market faces “less money more land” in ’08 By STAFF EDITOR Published: April 15, 2008 03:46 PM Chinese real estate developers could encounter trouble financing land purchases this year, Pan Shiyi, chairman and founder of real estate developer SOHO China (0410.HK), told China Securities News. “The property market in China would see a situation of ‘less money more land’ in 2008,” he said. Many developers currently have more than 70% of their debt coming due in the next year and government lending curbs are making it harder for them to fund their projects. Pan’s comments came weeks after ... You are currently reading 86 words of 261 total words in this article. To continue reading this article, you must be a subscriber. Log in now. Buy this article now for $10 USD. Not a subscriber? Start your 7-day free trial now. bookmark \| digg \| Permalink \| Tell a Friend Tags for this article: property , business , china , US , Beijing , real estate , hong kong , property market , IPO , securities	More Articles in Real Estate > Today’s Daily Briefs E-Mail Sign up for a roundup of the day’s top stories, sent every day. RELATED ARTICLES > Shanghai Tongji to raise US$73m through share placement CREO acquires prime Shanghai building for US$174m Shanghai property market down in early July FuramaXpress to launch business inn in Pudong Shenzhen property developer acquires Jiangxi province firms China Merchants Property wins approval for US$1.17b share issue Citychamp Dartong takes full control of property subsidiary

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