Property News · October 9, 2020

China Evergrande’s 30-per cent discounts get world’s most indebted developer within sight of sales goal, allay cash crunch fears


China Evergrande Group said a nationwide marketing campaign comprising 30-per cent discounts has brought it closer to hitting its ambitious full-year sales goal, as the world’s most indebted property developer pulls out all stops to generate cash to repay debt.The Guangzhou-based developer sold 141.63 billion yuan (US$21.1 billion) of real estate in the 38 days through October 8, including China’s weeklong National Day public holidays, typically a peak spending period. That brought the year’s…

Source : South China Morning Post
Read more…China Evergrande’s 30-per cent discounts get world’s most indebted developer within sight of sales goal, allay cash crunch fears

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