Evergrande's big property deal

Mainland realty giant takes over four projects from subsidiary of Hong Kong's New World Development

Evergrande Real Estate Group Ltd has revealed what it claims to be the Chinese mainland's largest ever single real estate acquisition, after agreeing to take over $2.1 billion worth of property projects from New World China Land Ltd, a subsidiary of Hong Kong's New World Development.

There are four projects involved in the deal: High-end residential sites in Haikou, the capital of Hainan province, Huiyang in Guangdong province, and two sites in Hubei province's Wuhan, close to the city's central business district.