China Evergrande said contracted sales reached 18.2 bn yuan in Jan – Aug, resumed 668 projects around China
China Evergrande said contracted sales reached 18.2 bn yuan in Jan – Aug, resumed 668 projects around China

China Evergrande said contracted sales reached 18.2 bn yuan in Jan – Aug, resumed 668 projects around China

 

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Embattled property developer China Evergrande Group said its contracted sales in the first eight months of the year reached 18.158 billion yuan and sold floor area reached 1.95 million square meters.

Evergrande said that it has so far resume construction of 668 of 706 property projects across the country, with 38 projects still in suspension.

Among the 668 projects with resumed construction, 606 projects have seen construction activities return to normal, while the other 62 projects are in the process of recovering to normal, it said.

In addition, China Evergrande said it’s considering transferring some assets to its property unit to settle some of the unit’s debt payments, according to a filing.

In July, the company revealed that loans secured by Evergrande Property Services had been diverted to the parent group, which led to Evergrande Group’s chief executive and finance head stepping down. Deposits worth 13.4 billion yuan held by the property unit had been used as collateral for pledge guarantees and seized by banks.

Evergrande Group said in the filing that it was in talks with the unit to muster funds to repay the loans.