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owners association?

fabey (61 posts) • 0

On a related topic.

Published this morning is a SCMP piece depicting the spillover effects of indebted developers on their property management subsidiaries. Financial strains of property managers may further fuel unresolved issues of homeowners as mentioned above:

www.scmp.com/[...]

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"Shares of most Chinese property management firms, once a darling of investors, have been beaten down in recent months as the woes of their parent companies spill over"

- "Property managers are being used as a financial tool by distressed developers to bail them out of sticky situations, JPMorgan says"

"At its height, 18 Chinese property managers, most of them spun off from their parent developers, went public in 2020, nearly double that in 2019 and four times that in 2018...

To raise money, embattled developers are turning to their property management units. Some like Modern Land have sold their stake in such units, while others have opted to sell the core asset of their property management units."

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