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China Evergrande Group currently strives to ensure home deliveries of 732 projects across the country and of that, construction of 579 has resumed and returned to normal and construction of 126 projects is in the process of resumption, while the other 27 projects have not resumed yet, the property developer said in a statement on its website on Saturday, adding that a total of 193,000 workers are currently employed for the consumption.
The resumption came due to support from upstream and downstream companies and its creditiors, and more than 6,000 construction companies and 380 building material suppliers are involved in the construction resumption, it said.
Since July last year when the company’s operations slipping into huge difficulties, Evergrande has so far delivered about 232,000 units of apartments with 24.19 million square meters of floor area in 363 projects, and in the first seven months of this year, it delivered 139,000 apartments with floor area of 15.61 million square meters, it said.
On Friday night, Evergrande said in a filing to the Hong Kong Stock Exchange that it has been working with its financial and legal advisors to review the company’s situation in an effort to draft a debt restructuring solution that respect the rights and interests of all parties concerned and to resume its operations in an orderly way. Read more …
Evergrande’s contracted sales reached 12.26 billion yuan in the first half of the year and floor area sold during the period amounted to 1.193 million square meters, it said, slumping 96.56% and 97.23% from a year earlier.