Reuters reveals Dashed dreams for China Evergrande's showpiece resort island | Reuters News Agency
Entertainment & Lifestyle

Reuters reveals Dashed dreams for China Evergrande’s showpiece resort island

Reuters provided insight into how the opening last year of the world’s largest artificial resort island, developed by China Evergrande Group for nearly $13 billion, was the realization of the ambitions of founder Hui Ka Yan, who sketched a design for the project himself. Now Evergrande is in default to global bondholders, and officials in Danzhou city have ordered 39 of the project’s towers — roughly 3,900 of the island’s 65,000 homes — to be demolished over environmental and construction violations.

Article Tags
Topics of Interest: Entertainment & Lifestyle
Type: Reuters Best
Sectors: Equities
Regions: Asia
Countries: China
Media Types: Text
Customer Impact: Important Regional Story
FILE PHOTO: An aerial view shows the 39 buildings developed by China Evergrande Group that authorities have issued demolition order on, on the manmade Ocean Flower Island in Danzhou, Hainan province, China January 6, 2022. Picture taken with a drone. REUTERS/Aly Song/File Photo
Sign up for email updates
Subscribe
Sign up for email updates