Chinese Developer Misses Payment Amid Deepening Housing Market Woes

Read MoreA midsize Chinese property developer’s failure to make over $300 million in payments to lenders is deepening fears of turmoil in the real estate sector in the world’s second-largest economy, where the country’s top-selling developer is teetering the edge of collapse. Fantasia Holdings Group, a Shenzhen-based developer, missed paying $206 million worth of bonds that matured on Monday, its filing with the Hong Kong Stock Exchange shows. It gave no further explanation but said it had requested a halt on the trading of its shares beginning on Sept. 29. Fantasia also failed to repay a company loan due the same day worth 700 million Hong Kong dollars (roughly $108 million), according to a separate stock exchange filing by the Country Garden Services Holdings, the property management unit for China’s second-largest developer by sales after Evergrande. A subsidiary of Fantasia told Country Garden after trading hours that it’s “probable” that Fantasia …