<p>A Chinese municipal district said it had taken back 134,500 hectares (332.4 acres) of land formerly held by a unit of debt-laden developer China Evergrande Group and had made no payment for doing so.</p>.<p>The government of Jiangxia District in the central city of Wuhan retrieved its land-use rights over the undeveloped sites at the Evergrande Technology Tourism City on November 16, according to a statement by the district's Planning and Natural Resources Bureau.</p>.<p>China Evergrande unit Wuhan Baden City Investment Co Ltd has held the land as developer of Evergrande Technology Tourism City. A right to use land is the Chinese equivalent of ownership, since title is always ultimately held by the state.</p>.<p>China Evergrande, engulfed by $300 billion in liabilities, has been at the centre of a deepening property debt crisis that has seen multiple developers default on offshore debt obligations over the past year, leaving many negotiating debt restructuring.</p>.<p>The land parcels taken back by Jiangxia comprised nine residential sites, two commercial and one for mixed development, the filing, dated Nov. 18 showed. It gave no further details.</p>.<p>Evergrande declined to comment. Its shares have been suspended since March.</p>
<p>A Chinese municipal district said it had taken back 134,500 hectares (332.4 acres) of land formerly held by a unit of debt-laden developer China Evergrande Group and had made no payment for doing so.</p>.<p>The government of Jiangxia District in the central city of Wuhan retrieved its land-use rights over the undeveloped sites at the Evergrande Technology Tourism City on November 16, according to a statement by the district's Planning and Natural Resources Bureau.</p>.<p>China Evergrande unit Wuhan Baden City Investment Co Ltd has held the land as developer of Evergrande Technology Tourism City. A right to use land is the Chinese equivalent of ownership, since title is always ultimately held by the state.</p>.<p>China Evergrande, engulfed by $300 billion in liabilities, has been at the centre of a deepening property debt crisis that has seen multiple developers default on offshore debt obligations over the past year, leaving many negotiating debt restructuring.</p>.<p>The land parcels taken back by Jiangxia comprised nine residential sites, two commercial and one for mixed development, the filing, dated Nov. 18 showed. It gave no further details.</p>.<p>Evergrande declined to comment. Its shares have been suspended since March.</p>