This transaction is part of the company's strategy to optimize its investment portfolio, recoup capital, and concentrate on its primary business activities as it implements its exit plan.
Once recognized as a leading developer by sales, Country Garden is currently navigating an offshore debt restructuring process following a default on its $11 billion offshore bonds last year.
The struggling firm also disclosed a more than 38% decline in its profit for the first half of 2024.
Country Garden Holdings Co. Ltd. is involved in the real estate sector, functioning across several segments, including Property Development, Construction, Property Investment, Property Management, and Hotel Operations.