Evergrande has been ordered to demolish 39 buildings in Chinese resort
CNN
Troubled Chinese real estate developer Evergrande is trying to reassure investors that it will work with authorities who have ordered the company to demolish a few dozen buildings in China.
Chinese media reported over the weekend that authorities in Hainan province — a tropical resort island off the coast of southern China — ordered Evergrande to demolish 39 buildings, saying that the building permits had been illegally obtained.
The company acknowledged the order in a post on WeChat on Monday night, noting that it did not affect other buildings in the same property project, which involve some 61,000 property owners.
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