Chinese property developer Shimao Group said on Friday it would sell a hotel in Shanghai to state-owned Shanghai Land Group for 4.5 billion yuan ($707.83 million), as it seeks to reduce its debt amid a crisis in the country’s property sector.
Start your deal-making journey now!
Subscribe now to enjoy unlimited access at just $59.
Premium coverage on private equity, venture capital, and startups in Asia.
Exclusive scoops from our reporters in nine key markets.
In-depth interviews with industry leaders shaping the ecosystem.
Already a Subscriber? Log in
Contact us for corporate subscriptions at subs@dealstreetasia.com
