China Evergrande will sell its interest in the Crystal City Project for 3.66 billion Yuan
The embattled property developer has been plagued by liquidity issues that have dampened the rollout of its projects.
Creditors are keeping a very close eye on the developer, which has more than $300 billion US dollars in liabilities.
The company has embarked on a restructuring program in a bid to consolidate its debt in one of China’s largest and most complex cases.
It has plans to dispose of the land-use construction rights in the Crystal City project, which is based in China’s Hangzhou region.
