Chinese developers eye Aussie market
A look at the nation’s property market for the week ending February 13th.
IT’S not just private Chinese investors who are getting a slice of the Australian property pie; more and more developers from the Middle Kingdom are seeing potential in the local market.
A recent estimate from Juwai.com puts the figure of Chinese developers’ investment in Australian real estate in 2015 at about $5 billion.
Local projects have become a priority for major players in China, such as Dalian Wanda, headed by China’s richest man Wang Jianlin, which scored development approval for its $1-billion No. One Sydney project in Circular Quay late last year.
The twin-tower complex, which will include a five-star hotel, residential and commercial space, will stand at what is currently the site of Gold Fields House and the adjoining Fairfax House.
Yifang Group’s recent debut in Australia shows this is just t…