China Evergrande : consumer groups urge Evergrande to p

China Evergrande : consumer groups urge Evergrande to provide home buyers with proper contracts


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BEIJING (Reuters) - Consumer organisations from the Beijing and Tianjin metropolitan areas and Hebei province have told China's second-largest property developer Evergrande Group to sign formal contracts with home buyers who have already paid for their apartments.
Consumer groups made the request at a meeting with Evergrande officials on April 16, Beijing Consumer Association said in a statement on its website on Tuesday. The meeting was organised following complaints from consumers, including that the property developer had failed to sign formal contracts with home buyers after selling its projects and produced only temporary sales documents.
Evergrande, China's most indebted property developer, has been scrambling for cash as the Chinese government tackles what it considers rampant borrowing in the real estate development sector. It has been offering hefty discounts on properties and rushing to roll out new projects as a way to ease liquidity pressures.

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