Chinese developer Kaisa says sales blockage lifted at eight developments

April 9, 2015 4:07 AM

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HONG KONG, April 9 (Reuters) - Chinese property developer Kaisa Group Holdings Ltd on Thursday said Shenzhen city authorities have removed sales blockages, imposed for undisclosed reasons, on nearly all apartments in eight residential developments.

Shenzhen city blocked sales at around 10 developments in December, leaving Kaisa struggling to repay over $10 billion in debt. Sunac China Holdings Ltd set removal of the sales blocks, as well as restructuring of the debt, as conditions to buy its smaller peer.

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