Security guards in front of the entrance to the headquarters of the real estate financier Evergrande in Shenzhen: The group is struggling to survive financially.
(Photo: Reuters)
Qingdao For Evergrande, the second largest real estate developer in China, the moment of truth is expected to be approaching next week. The troubled corporation’s mountain of debt amounts to 300 billion dollars. According to reports from financial news agency Bloomberg, new interest payments are due on Monday, which may no longer be paid.
Many investors fear that the real estate developer will go bankrupt. Much depends on the fate of Evergrande: Spread across the country, Evergrande operates and develops 1,300 real estate projects, and the group employs around 200,000 people.
But what options does Evergrande now have? And how did the company’s crisis develop in such a way? The following is an overview of the most important points.
How could Evergrande get into such an awkward position?
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