The China Evergrande Group was a Chinese property development company. Before its dissolution in 2024, it had become the second largest property developer in China by sales and the most valuable real estate company worldwide. Evergrande's sudden collapse in 2021 sparked the ongoing Chinese property sector crisis. Evergrande was founded in 1996 by Hui Ka Yan. It sold apartments mostly to upper- and middle-income earners. Evergrande was incorporated in the Cayman Islands, a British Overseas Territory, and headquartered in the Houhai Financial Center in Nanshan District, Shenzhen, Guangdong Province, China. By 2017 Evergrande had become the second largest property developer by sales in China. In 2018, Evergrande became the most valuable real estate company in the world, but by 2021 it had collapsed financially and started the Chinese property sector crisis under Xi Jinping's policy. The company eventually filed for bankruptcy in the United States in 2023, which was followed by a court-ordered liquidation in Hong Kong in January 2024. Wikipedia