Parkview Turns to Private Lenders as Traditional Banks Retreat
It’s getting tougher for developers in Hong Kong—and Parkview Group is right in the hot seat. The company just scored a HK$300 million private loan from investment giant PAG. Sure, that might sound like a lifeline, but it’s really just a nine-month bridge, not a cure-all. The interest? Let’s just say it isn’t cheap—the yield sits in the low-to-mid-teens. Still, that’s the price you pay when banks turn cold.
Banks such as Nanyang Commercial have started putting the brakes on lending to Parkview, and they’re not alone. Mainland Chinese banks are also trimming their exposure. No surprise, given the shaky state of the company’s finances. When traditional lenders pull away, private credit steps in—but it charges a premium and usually wants some serious skin in the game.
Parkview has been casting a wide net for funding since late 2024. They’ve been after at least HK$2.8 billion, offering up whatever assets they can—including two residential towers, parking spaces, and more. It’s still murky whether these specific assets landed in PAG’s collateral basket for the latest loan, but that’s the level of desperation we’re talking about.

Struggling Debt and a Bleak Market
Back in March 2025, Parkview barely sidestepped a technical default on a massive $940 million loan linked to their Beijing shopping mall complex. They came up short on a routine payment by about 20 million yuan—roughly $2.8 million. That’s not a huge gap for a company their size, yet it shows just how tight cash has become. This Beijing loan doesn’t go away quietly either—it matures in August 2025, and the company’s still working out options for refinancing before the clock runs out.
If it feels like Parkview’s troubles are part of a much bigger mess, you’re right. Hong Kong’s real estate market hit its peak in 2021. Since then, home prices have crashed by 28%. Think about that—if you bought a home at the peak, you’ve lost over a quarter of its value in just a few years. Stagnant economic growth and changing demographics have eaten into property demand and developer revenues. It’s not just Parkview struggling for air.
As for the PAG loan, both sides are keeping mum. No official comments, just paperwork and wire transfers. Behind the scenes, though, it’s clear this deal is all about buying time. Parkview needs enough runway to work through its debt pile—and hope the property market finds solid ground. Both developers and lenders are left playing a high-stakes waiting game where Parkview can’t afford to lose.
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