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China's Anqing city cancels contract of land site use with Evergrande subsidiary

China's Anqing city cancels contract of land site use with Evergrande subsidiary

FILE PHOTO: An Evergrande sign is seen at the sales office for an under-construction luxury residential compound developed by China Evergrande Group in Beijing, China September 22, 2021. REUTERS/Carlos Garcia Rawlins

HONG KONG : A local government in China's Anhui province cancelled its contract of land site use with a subsidiary of China Evergrande Group because the latter failed to make payment for the site, it said in a notice on Wednesday.

The Land Reserve Center of Anqing City said in a brief notice that relevant creditors of the land site should register with authorities within five working days or consider their creditors rights waived.

A statement posted on the Natural Resources and Planning Bureau of Anqing city in April 2020 said that a park, 19 residential buildings, and four commercial buildings were planned to be built on the 116,905 square meter land site.

(Reporting by Meg Shen and Brenda Goh. Editing by Jane Merriman)

Source: Reuters

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