China’s property woes bring global projects into focus

People cycle past the One Thames City construction site, by developer R&F Properties at Nine Elms, in London, Britain. - REUTERS/John Sibley/File Photo

CHINA’S property sector woes could spell trouble for prestige mega projects in London, New York, Sydney and other top cities as the developers behind them scramble for cash.

While China Evergrande Group’s struggles have dominated the crisis, the risk to multi-trillion dollar global property markets stems from some of its rivals that have spent the last decade competing to build ever taller and grander skyscrapers.