The China Evergrande Group was a Chinese property developer, and it was the second largest in China by sales. It was founded in 1996 by Hui Ka Yan. It sold apartments mostly to upper- and middle-income dwellers. 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. 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. 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