Evergrande Offers Deepest Ever Discount to Boost Home Sales
- Developer looks to leverage demand during national holiday
- Evergrande tries to increase sales in bid to cut debt in half
Photographer: VCG via Getty Images
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China Evergrande Group kicked off a nationwide sales promotion with its deepest ever discount on all real estate properties, part of the developer’s effort to boost sales and meet its target of cutting debt by half.
The promotion on residential real estate comes with a 30% price cut, according to a statement from the property developer. That’s the heaviest base discount Evergrande has ever offered since it began a signature promotion twice a year in 2011, according to Bloomberg calculations based on previous marketing material.