Aug 05, 2022 08:55 PM

BUSINESS

Evergrande’s Soccer Stadium Dream Ends in $187 Million Loss

By Guo Yingzhe, Wang Jing and Guan Cong

Evergrande’s under construction stadium on March 25, in Guangzhou. The 12 billion yuan, 100,000 seat stadium was to house the developer’s Chinese Super League team. Photo: VCG

Evergrande’s under construction stadium on March 25, in Guangzhou. The 12 billion yuan, 100,000 seat stadium was to house the developer’s Chinese Super League team. Photo: VCG

Troubled property developer China Evergrande Group expects to book a loss of 1.26 billion yuan ($186.7 million), after it abandoned plans to build a massive soccer stadium in Southern China and sold the land back to the government

With a lavish lotus flower design from international architects Gensler originally planned, the 12 billion yuan, 100,000 seat stadium was to house the developer’s pet Chinese Super League team.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: Beijing Plays Host to Giant Party Animals

NEWSLETTERS

Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription

PODCAST

China Stories: How a Rich Child Rapist Bribed His Way Off Death Row

00:00

00:00/00:00

MOST POPULAR

1: In Depth: Cash-Strapped Local Governments Turn to Financing Vehicles to Plug Fiscal Shortfalls

2: In Depth: Has China’s Monetary Policy Reached Its Limit?

3: Weaker Demand for Chinese Goods Spells End of Shipping Boom

4: China Foreign Minister Urges U.S. to Clearly Denounce Taiwan Separatist Activities

5: Former Head of Exim Bank’s Beijing Branch Kicked Out of Communist Party

SPONSORED

OR