Seascape Auckland ghost tower developer Shundi Customs estimated to owe $588.8 million

🌐 New Zealand Herald (NZ) —
Seascape Auckland ghost tower developer Shundi Customs estimated to owe $588.8 million

AI Summary

The developer of a ghost tower in Auckland, New Zealand, Shundi Customs, is reported to owe nearly $589 million due to financial difficulties. The financial crisis has led to the involvement of receivers in the situation.

China Construction Bank owed $133m. It called in receivers and now initial report is out.

Markets Deals Real Estate Auckland realestate debt development finance

Read original source →