18 more Chinese property firms to spin off units in HKMore real estate firms from the Chinese mainland are planning to list their property management businesses in Hong Kong this year to ease financial strains, according to Securities Daily. CGTN reports that since the start of this year, three property management enterprises have successfully listed on the Hong Kong stock exchange, raising HK$2.5 billion in total, the newspaper reported. Eighteen more real estate companies from the mainland have plans to split their property management businesses and have them listed in Hong Kong. The property management sector has come under the spotlight thanks to its steady cash flow and asset-light and counter-cyclical advantages as pressure facing real estate firms keeps mounting, according to Huang Yu, vice-dean of Beijing-based property research institute China Index Academy. The restructuring of real estate developers aims to relieve financial strains while expanding business through capital market financing, said Song Yanqing, president of Lander Consulting, a real estate consulting firm.

Source: The Standard June 13, 2020 15:11 UTC