Chinese realty firms’ India investment plans hit by uncertainty

Chinese realty firms’ India investment plans hit by uncertainty
09/07/2018 , by , in News/Views

Two years after announcing grand plans for India, leading Chinese developers Country Garden, Dalian Wanda and China Fortune Land Development (CFLD) are staring at uncertainty.

Hong Kong Stock Exchange-listed Country Garden, which opened several offices across India, has cut staff by more than half, a person aware of the matter said on condition of anonymity. Several top Chinese officials have left and it’s Pune and Hyderabad offices have been closed, the official said. Country Garden was in advanced talks with builders such as Wadhwa Group and Century Real Estate Holdings Ltd, and had even signed term sheets with land owners and local developers.

Experts said Chinese developers are revaluating their business plans.

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