Chinese Developer Kaisa to Speed Up Asset Sales After Missing Payment

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.