Home » Shanghai Pudong Development Bank comprehensively promotes the implementation of urban real estate financing coordination mechanism

Shanghai Pudong Development Bank comprehensively promotes the implementation of urban real estate financing coordination mechanism

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Shanghai Pudong Development Bank Promotes Urban Real Estate Financing Coordination Mechanism

The Shanghai Pudong Development Bank has announced its comprehensive efforts to promote the implementation of the urban real estate financing coordination mechanism. According to the official website of the bank, this move is aimed at implementing city-specific policies and making good use of the policy toolbox to support the stable and healthy development of the real estate market.

In January 2024, the Shanghai Pudong Development Bank Hefei Branch was able to connect with the local urban real estate financing coordination mechanism and obtain a project list with the strong support of the local government, housing construction department, and financial regulatory bureau. The branch successfully completed the entire process from application to approval of a private real estate enterprise’s real estate development project in just two weeks. The project is planned to be launched after the holidays, effectively promoting the completion and delivery of the project and protecting the rights and interests of homebuyers.

Similarly, in January 2024, the Shanghai Pudong Development Bank Nanjing Branch implemented the “Sixteen Financial Articles” of real estate and the requirements of the urban real estate financing coordination mechanism, providing continuous support to a private real estate enterprise’s operating property project by adjusting the repayment arrangement of an existing loan of 365 million yuan. The bank also stabilized financial support for real estate companies through the extension of existing loans at the Hangzhou Branch, promoting project completion and delivery and helping real estate corporate financing to be stable and orderly.

It is clear that the Shanghai Pudong Development Bank is actively taking steps to support real estate projects and promote the stable and healthy development of the real estate market. This comprehensive approach to urban real estate financing coordination demonstrates the bank’s commitment to fulfilling the spirit of the Central Financial Work Conference and implementing city-specific policies to support reasonable financing needs of real estate projects.

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