The logo of China Evergrande Group is displayed on a building in Shenzhen. The developer is reeling under US$300 billion of debt. Photo: Bloomberg
The logo of China Evergrande Group is displayed on a building in Shenzhen. The developer is reeling under US$300 billion of debt. Photo: Bloomberg

Evergrande crisis: Chinese developer suffers another loss in US$1 billion Shenzhen land sale to state-backed entity

  • The 10,376-square-metre plot in Shenzhen’s Nanshan district was sold to government-backed Shenzhen Anju Jianye Investment Operation
  • Evergrande bought the land in 2017 for 5.55 billion yuan with the aim of building a 71-storey tower to house its headquarters

The logo of China Evergrande Group is displayed on a building in Shenzhen. The developer is reeling under US$300 billion of debt. Photo: Bloomberg
The logo of China Evergrande Group is displayed on a building in Shenzhen. The developer is reeling under US$300 billion of debt. Photo: Bloomberg
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