Heavily-indebted property developer China Evergrande Group is seeking to reassure investors as it teeters on the brink of collapse, saying it has been continuously delivering property and repaying contractors as mandated by the central government, reports the South China Morning Post. However, the number of homes delivered each month has been declining sharply. It handed over 7,568 to buyers in October, one third the volume in July when its liquidity crisis started to escalate.
The embattled Chinese developer, saddled with RMB 1.97 trillion ($308.5 billion) of liabilities, said on its official WeChat account on Wednesday that it had handed over 57,462 homes since July across 184 projects across China.
“Assuring the delivery of homes is the number one priority of Evergrande,” the Shenzhen-based company said on its social media account. “Everyone in the company, led by chairman Hui Ka-yan, has made a pledge … that we deliver quality projects at full stretch and by any means possible.”