Chinese property developer Kaisa Group Holdings Ltd. plans to speed up asset disposals to meet investor obligations, after the indebted company missed a payment on a wealth-management product last week.
The Shenzhen-based company has sufficient “high-quality assets” it can tap to make the payments, Kaisa said in a statement on its website late Monday, adding that it would seek to sell assets in Shenzhen, Shanghai and other places. The developer said it would seek to negotiate a more feasible payment plan with investors and expedite sales at its property-development projects.
