China Evergrande has pledged to resume construction of all remaining stalled property projects by the end of this month, as the world’s most indebted developer works to pacify a nationwide mortgage boycott.
The developer will resume the construction of 38 remaining projects by the end of September and accelerate 62 restarted projects to “normal level”, according to a company statement released late on Monday that cited its chair Hui Ka Yan in a weekly meeting.
Among Evergrande’s 706 pre-sold projects nationwide that need to be completed and delivered to homebuyers, 668 have resumed construction, it said.
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