Asia real estate and outbound investment news
A privately owned Hong Kong real estate developer added to the flood of Chinese money into Australia this week by picking up the Melbourne Park Hyatt Hotel for a reported A$135 million (US$119.78 million).
The five star hotel is located near Melbourne’s Parliament House at 1 St Andrews Place and was developed in 1999 by Lustig & Moar at a cost of $150 million. The sale involves both the 240 room Park Hyatt hotel and an adjoining commercial car park.
While developers such as Fosun and Greenland have grabbed the biggest headlines in recent weeks with their billion dollar ventures into US real estate projects, these corporate giants appear to be simply following their customers, rather than blazing a new… Read More>>
Shanghai-based real estate developer Greenland Group kept itself busy over China’s National Day holiday, with the news getting out just two days after the break that it had signed a memorandum of understanding to purchase a pair of sites in… Read More>>
Shanghai-based developer Greenland Group is apparently in talks to purchase a residential site in Melbourne, Australia which has the potential to yield as many as 2000 apartments for resale.
According to a report in the Australian, Greenland head Sherwood Luo… Read More>>
