Evergrande Vows to Resume Projects to Allay Boycott Concerns
- Debt-laden developer to restart remaining 38 stalled projects
- Unfinished homes have led buyers to boycott mortgages in China
This article is for subscribers only.
China Evergrande Group pledged to resume its remaining stalled projects by the end of the month, as the debt-laden developer tries to allay concerns that prompted some homebuyers to refuse to pay mortgages for unfinished apartments.
The company will restart construction on 38 developments by Sept. 30, it said in a statement late Monday, citing Chairman Hui Ka Yan’s weekly staff meeting. It has already resumed building on 668 of the total 706 projects, it said.