Business Standard

Monday, December 23, 2024 | 03:42 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Evergrande races to restart projects as debt repayments loom

Nearly 92 per cent of Evergrande's property projects have so far restarted

Evergrande Group
Premium

Photo: Shutterstock

Bloomberg
China Evergrande Group said it has resumed construction at most of its housing projects as authorities push the debt-laden developer to pay migrant workers and deliver apartments.

Nearly 92 per cent of Evergrande’s property projects have so far restarted, compared with just about 50 per cent at the beginning of September, according to a company statement released on Sunday.

The number of workers involved in the projects that have resumed building has risen 31 per cent from September to 89,000. “As long as we do a good job in restarting work, production and construction, we’ll be able to

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in