hina Evergrande targets sales of $152m in Golden Week holiday

HONG KONG, Apr 28 (Reuters): Embattled China Evergrande Group is targeting sales of 1 billion yuan ($152.26 million) during China's Golden Week holiday, a person with knowledge of the matter said, as the property developer offers apartments at discounts nationwide.

With $300 billion in liabilities, Evergrande has been struggling to resume construction work and deliver homes to buyers, saying this month that building had resumed at 95% of its projects.

It is offering special discounts on 10,000 apartments across 413 projects to push sales in the holiday period, its Pearl River Delta business unit said in a WeChat post last week, without elaborating.

In 2021, Evergrande recorded contracted sales of 443 billion yuan, down 39% from the previous year.