China's Evergrande resumes work on more than 10 projects
China's Evergrande resumes work on more than 10 projects

China's Evergrande resumes work on more than 10 projects

Evergrande, deep in crisis with more than $US300 billion in liabilities.
RE+D magazine
25.10.2021

China Evergrande Group said on Sunday it had resumed work on more than 10 projects in Shenzhen, Dongguan and other cities and that all would be carried out according to plan.

The world’s most indebted property firm said in a post on its Wechat account that its effort to guarantee construction would shore up market confidence.

Evergrande, deep in crisis with more than $US300 billion ($A400 billion) in liabilities, has not disclosed how many of its 1300 real estate projects across China it has had to halt work on.

Τhe company said on August 31 that some projects were suspended because of delays in payment to suppliers and contractors and it was negotiating to resume building.

On Sunday, it said in a post on its Wechat account that some of the projects it had resumed work on had entered the interior decoration stage while other buildings had recently finished construction.