Di Nan: The real estate industry will enter a true restructuring window period in 2026

MaticHoleFiller · 2026-04-09T12:10:18+00:00

The 2026 Annual Outlook Forum was held in Guangzhou, with the theme "New Cycle: Quantitative Change to Qualitative Change." Vice President Di Nan pointed out that the real estate industry is facing significant transformation, with debt restructuring becoming the core issue. The market is shifting from blind anticipation of policy rescue to rational restructuring, emphasizing the importance and current state of non-performing asset management.

MaticHoleFiller

2026-04-09 12:10:18

Abstract generation in progress

Topic: 2026 Outlook Annual Forum

2026 Outlook Annual Forum · Live Highlights: On April 2nd, the 2026 Outlook Annual Forum was held in Guangzhou, with the theme “New Cycle: From Quantitative Change to Qualitative Change.”

Du Nan, Vice President of Modern Capital Management Co., Ltd., delivered a keynote speech stating that in earlier years, non-performing assets and debt restructuring were just peripheral sectors of the real estate industry. As the industry evolved, non-performing asset practitioners entered the core of real estate, and many real estate investors and operators also entered the non-performing asset field.

She pointed out that in 2021-2022, property companies still held illusions, believing it was only liquidity difficulties, waiting for policy rescue, unwilling to default, resistant to bankruptcy reorganization. In 2023, creditors fell into the jungle law, with disorderly foreclosure, lawsuits, and auctions, leading to market chaos; in 2024, the industry focused on ensuring delivery of buildings and projects entered regulatory mode; by 2025, the delivery of buildings was basically completed, many projects entered judicial procedures, and the industry realized that the old model could no longer be restored; in 2026, the perceptions of property companies, creditors, homebuyers, and the government first converged, ushering in a true restructuring window.

Du Nan pointed out that there is no such thing as a “white knight,” peers cannot provide rescue, state-owned enterprises and central enterprises also need to save themselves and cannot provide indiscriminate relief; agencies like AMC only select core areas and projects with short-term liquidity gaps, aiming for profit, not charity rescue.

Sina Statement: All conference transcripts are compiled from live notes. They have not been reviewed by the speakers. The publication of this article on Sina.com is for the purpose of conveying more information and does not imply endorsement of its views or verification of its descriptions.

A wealth of information and precise analysis, all on Sina Finance APP

Editor: Li Ang

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.