China Construction’s fourth engineering department will build the land for $328 million.
Evergrande would have had to spend $1. 7 billion on the project.
Evergrande introduced the stadium’s lotus flower design in 2020.
It will host Guangzhou FC, which he also owned, and is expected to be completed by the end of 2022.
The box will have a capacity of 100,000 seats, which would make it the largest box in the world in terms of number of seats.
Then, Evergrande went through a liquidity crisis and shut down in 2021.
The following year, he returned the land to the municipality for $764 million, a loss of $180 million.
The council then sold the building to a company it owns, Guangzhou City Construction Investment Group.
The redesigned stadium will be known as Guangzhou Football Park, rather than Guangzhou Evergrande Football Stadium, and will have a capacity of just 73,000 spectators, which will still place it in the most sensible league of football fields in the world.
The Guangdong Architectural Design and Research Institute unveiled a new design for the stadium in September. It envisages a stadium that will consist of a public gymnasium and advertising facilities.
Evergrande’s Hong Kong-listed holding company is currently in the process of liquidation through U. S. -based Alvarez. U. S.
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