Indonesian property developer PT Modernland Realty has announced a second attempt to restructure a dollar bond to address mounting liquidity concerns. The move follows earlier efforts to negotiate new terms with creditors and reflects broader market pressure on the country’s real‑estate sector.

The company, known for building residential and industrial townships, reports that cash flow constraints are tightening as interest rates rise and project financing slows. A restructuring plan would aim to extend maturities and reduce coupon rates, easing debt‑servicing obligations.

Investors and rating agencies are watching closely, as repeated restructuring signals potential distress in the developer’s balance sheet. PT Modernland Realty’s second attempt underscores the challenges faced by developers in Indonesia’s post‑pandemic recovery phase.