Evergrande's teeter may clear path for Singapore players in China
Singapore developers should be positioned for opportunistic bargains, amid a change in landscape in China that is turning conservative on debt
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FOUNDED in 1996 and listed in Hong Kong in 2009, Guangdong-based Evergrande Group rode China's epic property boom and made its founder Xu Jiayin one of China's richest men.
Evergrande has around 163,000 employees and its real estate footprint spans more than 280 cities in China.
But Evergrande is now faced with over US$300 billion in liabilities, hundreds of unfinished residential buildings, angry suppliers who have shut down construction sites, and furious homebuyers who have made down payments for stalled projects.
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