The real estate investment unit is purchasing the half-share on behalf of its $2.3 billion Allianz Real Estate Asia-Pacific Core I fund

Brisbane continued to be the strongest city for house price growth with values up 2.5% over the first month of the year, the report said

Chinese furniture makers, window and curtain firms, as well lighting companies, may be forced to issue profit warnings as Evergrande’s woes bite

The company allegedly paid $34m in fines for work on the project that skirted environmental and zoning regulations during the years it was built. Dozens of buildings are earmarked for demolition.

Developer and its chairman sold a Shanghai hotel and a stake in a Hong Kong development, respectively, for a total of $836 million

At the end of 2021, outstanding yuan-denominated real estate loans nationwide stood at 52.17 trillion yuan ($8.18 trillion), up 7.9 per cent year on year, PBOC data shows.

The deal is part of the Chinese government's push to buy assets from cash-strapped private developers amid efforts to stabilise and tighten control

Jim Umpleby, chief executive, said the machinery company's revenues would have been higher had it not faced supply chain problems

Fitch said weaker new home sales will weigh on developers' land replenishment. The ratings agency expects nationwide residential property sales to fall 10%-15% in 2022.

More disclosures are expected during the upcoming earnings season, putting pressure on Chinese authorities to do more to limit contagion

Los Angeles-based Oaktree moved this week to seize control of the asset, known as Project Castle, after Evergrande defaulted on a loan

Evergrande shares slumped on Thursday after the developer's thinly detailed restructuring plan left investors dissatisfied, while its indebted peers also fell on concern over higher interest rates