HK Builder Parkview Get Loan Extension, Relieve the Standard Risk

(Bloomberg) -Hong Kong developer Parkview Group Ltd. gained a three -month extension on a $ 940 million loan that, according to people who are familiar with the case, gives more time to work on a refinancing agreement with Banks. The loan, supported by the Parkview Green complex in the Chaoyang district in Beijing, will now mature in November, people said and asked not to be identified on private matters. Parkview did a possible default if it failed to secure the extension, as borrowers would have had the option to claim immediate refund when the facility ripened. Parkview did not respond to a request for comment. Parkview has been refinancing talks with banks for months, emphasizing the challenges the builders are still facing amid a slump that has been underway for years. Some smaller Hong Kong developers have experienced liquidity stress, as banks claim stricter refinancing conditions and higher credit improvements. To move his refinancing conversations, Parkview even considered selling artworks worth more than $ 200 million ($ 25.5 million) from Parkview Green’s collection in an effort to attract creditor support, Bloomberg reported. China’s commercial real estate sector still experienced pressure. According to Cushman & Wakefield, the vacancy rate in Beijing was 16.9% in the second quarter. Although it was slightly lower than the year-e-year, the improvement came after landlords offered lower rent for rent renewal, the property firm said. Parkview Green is known locally as Fangcaodi, and is known for his art collection, including pieces by Salvador Dali and Chinese artists such as Chen Wenling and Wang Luyan, according to the website. More stories like these are available on Bloomberg.com © 2025 Bloomberg LP