China Evergrande delivers 184 housing projects in July-October
Published: Nov 03, 2021 01:16 PM
Evergrande. Photo: CFP

Evergrande. Photo: CFP

Debt-stricken real estate developer China Evergrande Group announced on Wednesday the delivery of 184 housing projects between July and October.

Over the four-month period, it delivered properties to 57,462 home buyers, Evergrande said in a post on its official WeChat account. 

The developer wrote that it settled 105 projects in July involving 20,980 owners, 85 projects in August involving 21,106 owners, 48 projects in August involving 7,808 owners, and 39 projects in October for 7,568 home buyers.

Evergrande's shares in the Hong Kong market opened higher on Wednesday, gaining nearly 3 percent by midday. The benchmark Hang Seng Index traded lower at the close of the morning session.

Evergrande has restarted construction on 40 projects throughout the Pearl River Delta region and expects to settle 32 projects by the end of the year, according to media reports last week.

As the fallout from Evergrande's debt problems fades, financial institutions' funding for real estate firms are returning to the normal, Chinese financial news site reported Wednesday. 

In October, property lending was estimated to have grown by about 150 billion yuan ($20.24 billion) to 200 billion yuan from the prior month, according to the report, citing financial management bodies and banks.

Global Times