Country Garden Offloads Overseas Projects to Address Debt Woes

Beleaguered developer reportedly lists London residential project on top of other liquidations as it looks to raise cash

Country Garden, once China’s No. 1 developer by sales, has been offloading assets overseas to address a debt crisis

China’s embattled property developer Country Garden Holdings is ramping up overseas asset sales as the company struggles to raise cash to address its debt woes.

The Guangdong-based developer has listed a residential development project in East London for sale, British media reported last week. The divestiture came after Country Garden offloaded two projects in Australia.