Month: November 2021
The Bihar government’s Vigilance Investigation Bureau (VIB) on Saturday raided houses and office of a district land acquisition officer in Rohtas district, suspecting him to be in possession of assets worth ₹90 lakhs disproportionate to income but managed to discover his property holdings that alone were estimated close to ₹10 crore, officials aware of the developments said.
Verification of various ownership documents of the officer’s movable and immovable properties was carried out at his lavish parental house at Forbesganj in Araria district apart from two flats in Patna and his office chamber at Sasaram (Rohtas). The roughly 18 hours long raids were carried out through search warrants issued by the special judge, Vigilance, Patna.
HONG KONG (Reuters) – After years of expansion in Hong Kong, cash-strapped Chinese developers are reducing their presence in one of the world’s most expensive property markets, allowing firms in the financial hub to scoop up some of their assets at distressed prices.
Developers including China Evergrande Group and Kaisa Group Holdings Ltd, struggling under billions of dollars in debt, have sold some assets in recent months to Hong Kong developers to help ease liquidity stress back home.
There’s more to come – Aoyuan Group, which this week extended the redemption date of onshore asset-backed securities, is trying to offload more Hong Kong properties to raise capital, two sources with knowledge of the matter said.
Aoyuan is planning to sell a redeveloped office building in Kwai Chung in eastern Hong Kong, and the bidders will likely be local investors or family offices, said the sources, declining to be named as
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