Evergrande Slashes Prices on Commercial Property in Bid to Hit Sales Target

(Beijing) – Evergrande Group has launched a promotion that slashes the price of its commercial properties and parking spaces, a move one analyst links to a plan by China's second-largest developer by floor area sold to ramp up sales in 2015 and also as big debts also come due.

The developer recently told its branches around the country to sell commercial properties for 45 percent off the regular price and parking spaces at a 38 percent discount. The promotion lasts from March 9 to 15.