Guangzhou R&F Properties Co. Ltd has reportedly decided not to buy any land this year after the tighter financing environment and the overall slowdown of China's housing market add to pressure on real estate developers’ liquidity condition.
The Hong Kong-listed developer will suspend all land purchase plans in the second half of the year, reported several Chinese media citing an internal document dated July 26.
The company asked its local branches to step up home sales . . .
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