{"id":33345,"date":"2022-09-08T05:21:39","date_gmt":"2022-09-08T08:21:39","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=33345"},"modified":"2026-04-23T05:04:47","modified_gmt":"2026-04-23T08:04:47","slug":"guangzhou-rf-properties-to-sell-beijing-hotel-for-us79m","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/guangzhou-rf-properties-to-sell-beijing-hotel-for-us79m","title":{"rendered":"Guangzhou R&F Properties to sell Beijing Hotel for US$79m"},"content":{"rendered":"\n

Guangzhou R&F has experienced liquidity challenges due to the difficulties faced by China’s property sector.<\/p>\n\n\n\n\n\n\n\n

China.- Guangzhou R&F Properties Co Ltd has reported it will sell Beijing Hotel in China\u2019s capital for a sum of CNY550m (US$79m) as it seeks to boost its liquidity. Guangzhou R&F is the parent company of R&F Korea (RFKR), which is to develop an integrated resort with a foreigner-only casino in Incheon, South Korea.<\/p>\n\n\n\n

The RFKR Resor was due to open on March 17, 2023, but South Korea\u2019s Ministry of Culture, Sports and Tourism has granted\u00a0R&F Properties Co Ltd\u00a0<\/strong>permission to\u00a0delay the opening of its integrated resort in Midan City<\/a>\u00a0by 12 months.<\/p>\n\n\n\n

Guangzhou R&F has been facing challenges in terms of liquidity due to difficulties in China\u2019s property sector. The company had previously reported that it would sell land in Midan<\/a>\u00a0to increase funds for its\u00a0integrated resort project<\/strong>.<\/p>\n\n\n\n

On August 31, the company posted an interim loss of CNY6.9bn, compared to a profit of nearly CNY3.1bn in the first six months of 2021.\u00a0As of June 30, borrowing totalled over CNY134.5bn with close to CNY82.7bn due for repayment in the following 12 months. The group had cash, including restricted cash, totalling CNY15.32bn.<\/p>\n","protected":false},"excerpt":{"rendered":"

Guangzhou R&F has experienced liquidity challenges due to the difficulties faced by China’s property sector.<\/p>\n","protected":false},"author":176,"featured_media":8859,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Guangzhou R&F Properties Co Ltd is divesting assets, including Beijing Hotel for CNY550m, to address significant liquidity challenges stemming from China's property sector downturn. This financial strain has directly impacted its iGaming vertical, leading to a 12-month delay in the opening of its R&F Korea integrated resort and foreigner-only casino in Incheon, South Korea, initially slated for March 2023. The company reported a substantial interim loss and high short-term debt obligations, underscoring the capital market pressures affecting its project development timelines.","focusai_entities":"Guangzhou R&F Properties Co Ltd, R&F Korea (RFKR), South Korea\u2019s Ministry of Culture, Sports and Tourism","focusai_location":"China, Beijing, South Korea, Incheon, Midan City","focusai_target_profile":"ceo_executive (0.9), regulator (0.8), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on IR Financing?","query":"What specific capital market mechanisms or alternative financing structures is Guangzhou R&F exploring to secure the remaining funding required for the Midan City integrated resort's completion, beyond asset divestment?"},{"label":"Regulatory Compliance Review?","query":"Given the 12-month delay, what specific conditions or revised compliance milestones has South Korea's Ministry of Culture, Sports and Tourism imposed on R&F Korea to maintain its integrated resort license?"}],"footnotes":""},"categories":[157,16338],"tags":[23632,23907],"class_list":["post-33345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-integrated-resorts","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=33345"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33345\/revisions"}],"predecessor-version":[{"id":33354,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33345\/revisions\/33354"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8859"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=33345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=33345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=33345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}