Moody’s cut its rating on Shimao by two notches, to Caa1 from B2, and lowered its outlook to negative, down from “ratings under review”

Figures from property consultant CoreLogic showed national home prices rose 0.6% in February from January, when they increased 1.1%.

New home prices in 100 cities grew 0.03% from a month earlier in February, following a 0.01% drop in January, according to data from China Index Academy.

The developer reportedly has funds to pay an onshore bond debt worth 4 billion yuan ($634.25 million) due on April 1

Ailing China Evergrande will recoup around $310 million of initial capital contributed and can now settle around $1.1 billion of liabilities

Thousands of jobs are at risk after work stopped abruptly on multiple building sites in Australia this week, when South Africa's WBHO Group said it could no longer provide financial backing

At least two more developments by China Evergrande Group have been taken over by state-owned enterprises (SOEs) in the past few weeks, corporate registry records show

The heavily indebted sector faltered last year as Beijing mounted a deleveraging campaign that caught out numerous developers

The temporary facilities, with a combined capacity of 50,000 beds, will be spread across Hong Kong, including on private land lent for free by developers.

The company recorded 3 billion ringgit in sales for the year, exceeding the group's target of 2.4 billion ringgit, and a 50% rise year-on-year

Fresh Moody's downgrade of Shimao's rating also hits investor confidence, highlighting the debt travails bedevilling some bloated developers

Pledge comes after a series of regulations aimed at reining in debt in the sector unsettled buyers and prompted a marked slowdown in the property sector