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CW.350.VIKING BOER–CHINA WATCH – China’s Property Crisis
What This $100B Ghost City Reveals About China’s Property Crisis | WSJSep 11, 2023 #WSJ #China #RealEstate
Country Garden, once seen as one of China’s most stable property developers, is now struggling financially, leaving the future of unfinished megadevelopments like the $100 billion Forest City in doubt.The real estate project in southern Malaysia was planned to house around 700,000 people, but only 9,000 people live there with most units left empty. So why are Chinese real estate companies like the Evergrande Group and Sunac falling into financial distress?
WSJ explains why China’s real estate developers are in the red.
0:00 Forest City
0:48 China’s real estate market
2:56 What’s next?
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