Evergrande's Hainan towers seen before demolition

Evergrande confirmed late on Monday (January 3) that on Dec. 30 authorities in Danzhou city, Hainan province, had ordered it to demolish 39 buildings at Ocean Flower Island, a massive integrated resort development where the firm has spent 81 billion yuan ($13 billion) to build over 60,000 homes.

Local media, citing a screenshot of the official order, reported prior to Evergrande's confirmation on the demolition that the buildings needed to be demolished within 10 days for illegal construction and environmental violations.

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