Country Garden, once seen as one of China’s most stable property developers, is now struggling financially, leaving the future of unfinished megadevelopments like Malaysia’s Forest City in doubt.
Here’s how overbuilding, and a streak of bad luck, have left China’s real-estate developers in the red.
Photo: Adam AdadaAfter being stuck in a housing downturn for two years, cities across China are giving real-estate developers the go-ahead to cut prices on new homes to revive sales.
They are quickly running into resistance from homeowners who don’t want to see the values of their properties go down.
Persons:
Adam Adada
Organizations:
Malaysia’s Forest City
Locations:
Malaysia’s Forest, China