DeHeng Advises Greentown Group on the Greentown ABS
for Balance Payment of Housing Fund

2017-07-25

The Greentown ABS plan for balance payment of housing fund was established on July 21, 2017. The special plan is the first ABS plan for balance payment of housing fund that receives the Letter of No Objection in 2017 and that has lowest interest rate among all ABS plan for balance payment of housing fund issued so far. It is supported by the creditor's rights of the accounts receivable in the form of mortgage, with an issue amount of 1.6 billion yuan. DeHeng lawyers provided professional legal services for this project.

In 2016, Greentown Group's total contract sales amount reached 113.9 billion yuan, a year-on-year increase of 58.4%. From January to June, 2017, Greentown Group reached a total area for contract sales of approximately 3.46 million square meters, and a total contract sales amount of approximately 59.5 billion yuan, showing an increase of 31% over the same period of last year.

Liu Zhenguo, Pu Hong, Zheng Jie, Fang Yan and Zeng Shiqin of DeHeng (Shenzhen) Law Office provided comprehensive and efficient legal support for this ABS project.