What China’s Evergrande crisis means for its real estate market and the world

Sunny Peninsula, a seaside development in Guangzhou, Guangdong province, southern China, was supposed to house 5,000 families in dozens of towers spread across an area the size of 30 football pitches. Many of the buyers were white-collar workers benefiting from the fastest urbanisation in human history.But the project now looks more like the set of a disaster movie. Half-finished residential blocks stand empty and abandoned. Untouched for months in the humid summer weather, piles of steel bars…

What China’s Evergrande crisis means for its real estate market and the world
Sunny Peninsula, a seaside development in Guangzhou, Guangdong province, southern China, was supposed to house 5,000 families in dozens of towers spread across an area the size of 30 football pitches. Many of the buyers were white-collar workers benefiting from the fastest urbanisation in human history.But the project now looks more like the set of a disaster movie. Half-finished residential blocks stand empty and abandoned. Untouched for months in the humid summer weather, piles of steel bars…