HONG KONG: Struggling Chinese property giant Evergrande has had a lucrative building plot in suburban Hong Kong sold off by its American receiver to cover some of the company's massive debts, according to company filings.
The undeveloped plot in the border district of Yuen Long was sold for nearly $637 million, with Evergrande saying it expected to record a loss of approximately $770 million on the land, according to a statement filed on the Hong Kong Stock Exchange on Sunday night.
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