Shen­zhen-based de­vel­oper misses de­liv­ery date on apts

China Daily (Canada) - - BUSINESS -

Shen­zhen-based Guang Real Es­tate Group Co on Thurs­day said it had failed to deliver some prop­er­ties on time be­cause of fi­nan­cial pres­sure but de­nied me­dia re­ports that it was on the brink of col­lapse. The news un­der­lines the grow­ing pres­sure on the property sec­tor as banks make it harder for de­vel­op­ers to get loans and au­thor­i­ties tighten con­trols on spec­u­la­tive buy­ing.

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