Property News · October 9, 2021

Evergrande: default alarms put thousands of suppliers, jobs and economy at risk as developer’s IOUs balloon


The third of a three-part series on China Evergrande Group takes a deep dive into how the property developer’s debt crisis is affecting thousands of suppliers across the construction, furnishings and real estate services sectors and how the fallout of an Evergrande collapse could affect China’s economy.In October 2019, China Evergrande Group’s first project in Hong Kong got off to a flying start, selling out all 167 flats in its first weekend and outpacing sales of other developers after months…

Source : South China Morning Post
Read more…Evergrande: default alarms put thousands of suppliers, jobs and economy at risk as developer’s IOUs balloon