Real Estate
11 Nov
WeWork, bankruptcy ,US , real estate WeWork, the desk renting company co-founded by Adam Neumann, has filed for bankruptcy in order to deal with its $13 billion in outstanding lease obligations. The group, which was once valued at $47 billion, saw its meteoric rise thwarted in 2019 when its heavy losses were exposed and during the Covid-19 pandemic with the advent of remote work.
2 Sep
The Evergrande Group filed for bankruptcy in order to safeguard its assets within the US. Many developers have been facing similar issues in China's expansive property industry.
20 Aug
China's largest real estate developer Country Garden is struggling to stay afloat. A possible bankruptcy could spell more trouble for real estate prices and the wider economy.