Creditors are being asked to vote to wind up the Ralan Group.
#RalanGroup #Collapse #Investing Investors are losing millions of dollars because of the Ralan Group Collapse. Buying off the plan isn’t risk-free. References Chinese-Australian property investors stand to lose millions in collapse of apartment developer Ralan Grouphttps://www.abc.net.au/news/2019-09-17/property-developer-collapse-sees-investors-facing-huge-losses/11492920
#RalanGroup #Employment #Recession It appears that the Ralan Group may have spent the deposits of people who purchased off the plan. References Most off-plan deposits for Ralan units ‘have been spent’ https://www.realestate.com.au/news/most-offplan-deposits-for-ralan-units-have-been-spent/
#Construction #Development #Recession Australian Developers are starting to crash and this will have ripple effects throughout the economy. Construction jobs are at risk and yet people are still suggesting we should rush off and buy off the plan? References Construction industry cracks showing as Ralan Group goes under https://www.abc.net.au/news/2019-08-01/construction-industry-cracks-showing-as-major-developer-falls/11374464
#RalanGroup #Development #RalanCollapse Sydney Unit Developer Ralan Group has collapsed, entering voluntary administration, with $500 million worth of outstanding debt. With unfinished projects, one has to worry about how this will affect tradies, material suppliers and people who have purchased off the plan. References Major Sydney unit developer The Ralan Group collapses during apartment downturn […]