Chinese Developer Shimao Group puts All Projects on Sale

According to Ciaxin report, Shimao Group Holdings has put all of its real estate projects on sale which includes both residential and commercial properties.

Shimao defaulted on a trust loan last week has asked agents since late December to help seek buyers for its properties, as reported by Caixin

The company has primarily struck deal to sell its Shimao International Plaza Shanghai for more than 10 billion yuan, Caixin reported.

According to Caixin, Shimao has 34.2-billion-yuan worth of outstanding ABS as well as $5.72 billion worth of dollar bonds.