(Yicai Global) July 7 -- Evergrande Group, China’s second-largest property developer, has put more than 200 of its commercial properties on sale for an undisclosed price, online news outlet The Paper reported today.

Office buildings, hotels, commercial properties, shopping malls and other buildings with floor areas of over 1,000 square meters each which Evergrande would normally lease out are now on the market.

As non-core assets, there is nothing unusual about the sale, a source close to the firm said. Land, new energy vehicles, tourism and healthcare are the Shenzhen-based company’s core assets.

In 2014, Chairman Xu Jiayin laid out a commercial empire blueprint, proposing to build an upgraded version of the Wanda Plaza, the mixed-use complexes run by rival Dalian Wanda Group, and to raise the firm’s commercial assets to over CNY100 billion (USD14.2 billion).

However, little progress has been made given the current depressed market. Although the firm has continued to buy commercial lands, most of it serves as ancillary space for residential projects.

Evergrande has achieved less than half of its CNY800 billion (USD114 billion) sales target for this year so far. It posted CNY348.8 billion in contract sales in the first six months, a gain of 23.8 percent from the year before. The sales involved a floor area of 38.6 million square meters, up 47.5 percent.

Evergrande’s stock price [HKG:3333] closed down 8.21 percent at HKD25.70 (USD3.32) today.

Editor: Kim Taylor