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China developers chase rich buyers abroad amid curbs at home

Posted on 07 December 2012

Chinese developers are starting to venture overseas, chasing wealthy locals who are buying apartments from New York to Sydney as the government restrains the property market at home.
Xinyuan Real Estate Co. in September took control of a lot slated for more than 200 units of housing near New York’s Brooklyn waterfront for $54.2 million, a deal the Beijing-based company said is the first of its kind by a Chinese firm in the U.S. Country Garden Holdings Co., the developer controlled by China’s richest woman, said this week it will buy waterfront land in Malaysia………………………………………..Full Article: Source


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