Chinese listing portal, Juwai, has reported that approximately $5 billion was heaped into the Australian development scene last year as the market for developments across the Eastern states as well as Western Australia soars.
In one month alone last year, over $50 million worth of development sites in Melbourne was purchased by a bevy of Chinese developers looking to capitalise on prime land in Oakleigh, Dalgety Hill and South Melbourne.
A seperate deal was also negotiated late last year in Melbourne’s Docklands, with the sale of the Millennium Site to China Poly Group for $32 million with plans to build over 600 apartments.
Image courtesy: Mel 365
