Sunac China brings in new investor to restructure Chongqing Bay project
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FILE PHOTO: The logo of property developer Sunac is seen outside a residential compound in Beijing, China September 19, 2023. REUTERS/Florence Lo/File Photo
(Reuters) - Embattled property developer Sunac China on Thursday said a private credit firm will invest 2.48 billion Chinese yuan ($340.34 million) into restructuring debts for the Chongqing Project.
The project focuses on residential and commercial properties for sale, most of which have not yet been developed.
($1 = 7.2869 Chinese yuan renminbi)
(Reporting by Rishav Chatterjee in Bengaluru; Editing by Vijay Kishore)
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