Evergrande Changqing community on September 24, 2021 in Wuhan, China.
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China Evergrande Group's Hong Kong headquarters has been seized by a lender after the struggling Chinese property developer defaulted on a loan and twice failed to sell the building, the Financial Times reported on Thursday.
In December, Evergrande, one of China’s biggest developers, defaulted on interest payments due to its offshore bondholders, followed shortly after by Kaisa Group Holdings.
Property prices declined for an 11th straight month in July and are down as much as 30 percent compared with last year, Al Jazeera previously reported.