This aerial photo taken on September 17, 2021 shows a view of the Guangzhou Evergrande football stadium in southern Guangdong province. Photo: AFP
This aerial photo taken on September 17, 2021 shows a view of the Guangzhou Evergrande football stadium in southern Guangdong province. Photo: AFP

China Evergrande cancels land deal for US$818 million refund to overcome liquidity crisis, end grandiose football stadium plan

  • Distressed developer seeks a 5.52 billion yuan refund by returning land-use rights to four parcels of land in Guangzhou
  • Evergrande sunk 2.1 billion yuan in cost to build the world’s biggest football stadium before it ran out of cash amid bond defaults

This aerial photo taken on September 17, 2021 shows a view of the Guangzhou Evergrande football stadium in southern Guangdong province. Photo: AFP
This aerial photo taken on September 17, 2021 shows a view of the Guangzhou Evergrande football stadium in southern Guangdong province. Photo: AFP
READ FULL ARTICLE