Logan Group secures HK$8.2 billion loan to develop luxury property

16 Aug 2024 CW Team

Chinese developer Logan Group has secured a HK$8.2 billion loan to refinance a facility used for the development of a luxury property in Hong Kong. This loan is part of Logan's ongoing effort to restructure approximately $8 billion in offshore debt. The loan was obtained by Unicorn Bay (Hong Kong) Investments, in which Logan holds a 50% stake.

The property in question, The Corniche, was developed during China's real estate boom by Logan Group and KWG Group and was anticipated to generate around HK$30.9 billion in sales. However, a downturn in the local property market and the high costs of premium locations have left many apartments unsold since the project's completion last year. Some units at The Corniche's first tower have seen their prices slashed to about HK$25,000 per square foot, representing a 40% discount from the original asking price, according to a source. (Bloomberg News & ET)

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..