- China’s Evergrande said in a statement that it has resumed work on more than 10 projects in six cities in the country.
- The statement came just days after the property giant avoided a default by paying a dollar bond interest.
- Markets the world over have been roiled by Evergrande’s debt woes as investors fear contagion.
China’s Evergrande said on Sunday it had resumed work on more than ten real estate projects across six cities in the country. The news came just days after the real estate giant avoided default with a last-minute dollar bond interest payment.
The announcement on the property developer’s WeChat social media account said it will “go all out” to deliver on its social responsibilities to homebuyers and comply with the government’s requirements.
The notice also appeared to attempt to reassure homebuyers by showing photos of workers working on the properties.
Markets the world over have been roiled by Evergrande’s debt woes as investors fear contagion across the world economy. The developer still faces more than $300 billion in liabilities and has another interest payment worth $45 million due this Friday.
Evergrande has also not said how many of its 1,300 real estate projects across China has been suspended, according to Reuters.
After Evergrande said in late September that it had resumed work on 46 real estate projects across China, TikTokers in the country visited construction sites themselves to investigate the claims.
Chinese authorities have stepped out to reassure that Evergrande’s crisis will be contained.
China Evergrande shares in Hong Kong opened 6% higher on Monday.
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