Third Chinese real estate developer unable to repay loan

Chinese real estate developer Sinic warned he could not repay a loan “lack of liquidity”, at a time when the sector is shaken by the difficulties of Evergrande, on the verge of bankruptcy. Sinic is the latest real estate company in China to report serious financial difficulties and its announcement comes just after the departure on Monday of two directors of another group in the sector, Fantasia, which is also struggling to repay its debts.

The group said it was unable to repay a loan of 250 million dollars (216 million euros) whose last maturity is scheduled for Monday, October 18.