Wanda Faces $700 Million Bond Deadlines as China’s Property Crisis Deepens
December 3, 2025, 7:32 AM UTC
Updated: 9:37 AM UTC
China’s deteriorating property sector is intensifying scrutiny of the country’s largest developers that have managed to dodge defaults so far, as offshore bond maturities loom closer.
A prime example is the commercial real estate arm of Wanda Group, the conglomerate built by billionaire Wang Jianlin. Dalian Wanda Commercial Management Group Co. has dollar notes maturing on February 13 next year that have slipped to below 92 cents on the dollar, down from around 97 cents a month earlier. Its bonds due January 12 have declined by more than a penny over the past week, trading near 97 cents—the weakest level in six months.
These movements highlight the heightened market pressure faced by major developers as the financing environment tightens and repayment deadlines approach, signaling growing investor concern about near-term default risk within China’s property sector.
