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Evergrande compensates investors with real estate

Stumbling property developer Evergrande began compensating investors with discounted real estate on Saturday, Bloomberg reports. The company announced via WeChat that investors interested in redeeming asset management products for tangibles should contact their investment advisers or local Evergrande offices, according to Reuters. According to reports, more than 70,000 investors, including many Evergrande employees, had bought wealth products. The equivalent of about €5.2 billion euros of these products are now due, writes business portal Caixin. Investors are able to choose between discounted apartments, office and retail space, or parking garages, according to Reuters.

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