Predict your next investment

Corporation
FINANCIAL | Real Estate / Commercial Property Management
evergrandeservice.com

See what CB Insights has to offer

Founded Year

1997

Stage

Acq - P2P | Acquired

Total Raised

$3.032B

Valuation

$0000 

About Evergrande Property Services

Evergrande Property Services (06666.HK) is the property management subsidiary under the Evergrande Real Estate Group in China.On October 4th, 2021, Evergrande Property Services was acquired by Hopson at a valuation of $5.11B.

Evergrande Property Services Headquarter Location

37th Floor, Block A, Aerospace Science and Technology Plaza, Haide 3rd Road, Nanshan District

Shenzhen, Guangdong, 518000,

China

+86-755-81996598

Latest Evergrande Property Services News

Evergrande Founder Injects Over USD1 Billion Into Chinese Developer After Selling Own Assets Evergrande Founder Injects Over USD...

Nov 17, 2021

(Yicai Global) Nov. 17 -- The founder of China Evergrande Group has injected more than CNY7 billion (USD1.1 billion) in cash into the debt-laden property developer to boost its liquidity after selling personal assets and share pledges to raise the funds. Since July 1, Xu Jiayin has sold property, including three villas in Hong Kong and mansions in Guangzhou and Shenzhen, private jets, and pledged equity to use the money raised to guarantee the construction and delivery of homes, interest payments, wealth management product redemptions, and staff salaries, Yicai Global learned yesterday from a source close to Evergrande. Evergrande has been trying its best to avoid default since its liquidity crisis was made public. The Guangzhou-based firm has recently paid interests on bonds on time. The most recent was on Nov. 11, when it paid USD148 million on three US dollar-denominated bonds. Evergrande has pledged to protect the rights and interests of investors and resume and guarantee building projects are completed. In mid-August, the company said it would sell assets of Evergrande Property Services Group and China Evergrande New Energy Vehicle Group to quickly raise money to ease its cash crunch. Evergrande was also said to sell its Hong Kong headquarters. Shares of Evergrande [HKG:3333] ended today 0.4 percent higher at HKD2.80 (36 US cents), after earlier jumping as much as 4.3 percent. The stock has lost 81 percent of its value this year. Hopson Development Holdings agreed on Oct. 4 to buy 50.1 percent of Evergrande Property for HKD20 billion (USD2.5 billion), but later that month Evergrande pulled out of the negotiations due to payment method problems. Evergrande did cut its stake in Shengjing Bank early this month, raising about CNY11 billion (USD1.7 billion). With sales of only CNY5.3 billion, Evergrande ranked 49th in its sector in September, per statistics from China Real Estate Information’s research center. In October the troubled developer failed to make the list despite the builder in 50th place logging sales of only CNY3.7 billion. Editor: Futura Costaglione

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Evergrande Property Services Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

Evergrande Property Services Rank

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.