The latest exercise provides crucial breathing room for Parkview, which faced the risk of default had lenders demanded immediate repayment at maturity. Banks had expressed concern that the Beijing property was not generating sufficient cash flow to cover debt obligations.
A spokesperson for Parkview didn’t immediately respond to a request for comment.
Parkview’s challenges reflect the broader strains in China’s real estate industry, where falling values have eroded confidence in assets once considered reliable collateral. Used-home prices in top-tier cities are projected to drop another 10% in 2026 and 5% in 2027 unless Beijing introduces major stimulus measures, according to John Lam, UBS Group AG’s head of China property research.
The Hong Kong builder had put its Parkview Green complex, known for its glass architecture and collection of contemporary art, up for sale last year. But so far there is no potential buyer, Bloomberg News reported earlier.
See also: Taiwan may push back timeline to meet green energy goal after missing it last year
Beyond Parkview Green, the company’s portfolio includes the Hong Kong Parkview residential complex and Le Beauvallon — The Bay of Saint Tropez in France, according to its website.
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