[Hong Kong, 25th Archyde.com]–China’s real estate development giant, Evergrande Group of China, has transferred at least two additional construction projects to state-owned enterprises, according to a company registration document.
The company has more than $ 300 billion in debt, making it difficult to continue construction projects.
According to the document, the Evergrande Group of China transferred the rights to the theme park “Evergrande World” in Nansha District, Guangzhou to Goko International Trust on January 26th.
On February 11, the rights to the housing development project in Dongguan City, Guangdong Province were transferred to China Guangda Group.
The transfer amount is unknown.
The Chinese government is encouraging state-owned enterprises and large real estate developers to buy assets from poorly funded real estate companies.
Last month, Gomin International Trust acquired two projects of Evergrande China for a total of 80 million yuan ($ 12.67 million).