Creditors of indebted China Evergrande Group have more cause for concern after local media reported that the giant developer has been ordered to tear down some blocks at one of its mega projects in Hainan Province.Chinese media reported that Evergrande, once China’s largest developer by sales but which is now struggling under a mountain of debt, has been asked to tear down 39 buildings at a development on the southern tropical island within 10 days, according to a local government notice.An…
Source : South China Morning Post
Read more…Evergrande creditors have more cause for concern amid reports some of its Hainan developments need to be demolished
