Evergrande aims to deliver 600,000 apartments in 2022, says no fire sales

Evergrande, the world's most indebted property developer with over $300 billion in liabilities, has been struggling to repay creditors, suppliers, and deliver homes to buyers

China Evergrande Group needs to clear its debt by fully restoring construction and sales activities and not by selling off assets on the cheap, its chairman told an internal meeting, vowing to complete 50% of pre-sold homes this year.

Hui Ka Yan told staff in a Sunday meeting that the firm aimed to fully restore construction work across China this month, compared with 93.2% at the end of last year, with a goal of delivering 600,000 apartments in 2022, according to a source with direct knowledge of the matter and media reports.

Evergrande declined to comment.

Evergrande, the world's most indebted property developer