Shares in China’s property developer Country Garden and its property service arm Country Garden Services Holdings tumbled on Monday, extending losses from the previous week on debt concerns.
Country Garden Services Holdings slumped more than 6 percent, while Country Garden fell more than 3 percent to its lowest level since last November.
The developer has an extensive spread of properties in Johor, compromising four man-made islands spanning 30km2, the Forest City was supposed to be a smart and green futuristic city that combines environment, technology, and cutting-edge technology. However many of the blocks remain empty and deserted.
Reuters
