Debt-saddled Shimao Group Holdings has put its luxurious Intercontinental Shanghai Wonderland hotel, located down an abandoned mine pit and close to the Asia Pacific region’s only Smurfs theme park, up for sale.
It is one of 36 real estate projects that the Chinese developer said last month that it intends to sell as the debt-mired firm looks to raise more than CNY77.1 billion (USD12.2 billion) to reduce liabilities.
(Source)
