Beijing Centergate cancels $2.6 billion property plan

Article Date : 01 September 2008
News Section: China

A sign of the times is that Beijing Centergate Technologies, developer of the city’s Zhongguancun technology district, has canceled its plan for an RMB18 billion ($2.6 billion) share placement to obtain real estate assets. Centergate said tight monetary policy this year had seriously affected China’s real estate sector. The company said in a brief statement, ‘It’s unclear...

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Article provided by China Economic Review.
Read the full article here: http://www.chinaeconomicreview.com/realestate/2008/09/02/beijing-centergate-cancels-26-billion-property-plan.html

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