Evergrande reports reduced H1 loss amid property crisis

28 Aug 2023 CW Team

China Evergrande Group, a major property developer, announced a net loss of 33 billion yuan ($4.53 billion) for the January-June period, an improvement compared to the 66.4 billion yuan loss during the same timeframe the previous year.

The company is a focal point of China's property industry turmoil, which has witnessed a series of debt defaults since late 2021.

The most heavily indebted developer globally disclosed a combined net loss of $81 billion for the years 2021 and 2022 in a belated earnings report last month. This follows a profit of 8.1 billion yuan in 2020.

Over the two-year span, revenue plummeted by 55% to 230.1 billion yuan. Liabilities surged by 23% to 2.4 trillion yuan, while its assets declined by 20%, amounting to 1.8 trillion yuan.

Notably, Evergrande stated on Friday that it had adequately met exchange directives to resume trading of its Hong Kong-listed stock. The company applied for trading to recommence on August 28. The stock's trading had been suspended since March of the previous year pending the release of the 2021 and 2022 results, along with developments relating to an investigation into the seizure of 13.4 billion yuan in deposits from a subsidiary.

Infrastructure Transport

10 Jul 2026

Uttar Pradesh unveils infrastructure-led growth roadmap at RAHSTA

Mumbai, 9 July 2026: Uttar Pradesh’s ambitious infrastructure-led growth strategy took centre stage on Day 2 of the 16th RAHSTA Expo, where senior government officials outlined how expressways, industrial corridors and technology-driven governance are transforming the state into one of India's most attractive investment destinations.Delivering the keynote address, Srihari Pratap Shahi, IAS, Additional Chief Executive Officer, Uttar Pradesh Expressways Industrial Development Authority (UPEIDA), highlighted the state's long-term vision of integrating world-class expressways with industrial dev..

NCW closes PRIME Offices Fund at Rs 40 billion

Nuvama and Cushman & Wakefield Management (NCW) has announced the final close of its flagship PRIME Offices Fund at approximately Rs 40 billion, exceeding its original target of Rs 30 billion following strong investor demand.The fund was launched to provide Indian investors with access to institutional-grade commercial office assets across key office markets in the country. According to NCW, the increase in the fund size was supported by strong investor participation and the availability of investment opportunities in India's office sector.The fund has already committed around 45 per cent ..

Mayfair Housing adopts Autodesk Forma for digital project planning

Mayfair Housing has entered into a three-year strategic partnership with Autodesk to deploy Autodesk Forma, an AI-enabled cloud platform, as part of its digital transformation programme aimed at improving project planning and execution across its development and redevelopment portfolio.The platform will be integrated into the company's Building Information Modelling (BIM) workflow to support architects, planners and project teams during the early stages of design and development. Autodesk Forma combines real-world data, environmental simulations and collaborative workflows to facilitate data-d..