Home » Business » Real Estate
Fosun seals 2nd US property project
Print Edition
FOSUN Group, China’s largest closely held conglomerate controlled by billionaire Guo Guangchang, will partner New York developer JD Carlisle LLC in a luxury property development project in midtown Manhattan.
The 47-story condominium tower on Madison Avenue will be Fosun’s second project in New York, following its purchase of One Chase Manhattan Plaza in 2013.
With a total gross floor area of about 32,500 square meters, Fosun’s first overseas luxury residential development project will consist 174 units, Fosun said in a statement yesterday.
The latest deal, for which no investment figure was released, further strengthens Fosun’s overseas presence.
Earlier in April, Fosun further expanded in the Australian market by partnering Australia’s EG Funds Management. The two companies will co-develop three apartment buildings in Sydney and Brisbane, according to Fosun.
At the end of January, Fosun teamed up with Propertylink to buy a 14,672-square-meter office building in Sydney for A$116.5 million (US$92 million) — its first foray in the Australian property market.
Chinese investors may invest US$20 billion this year in offshore properties, Jones Lang LaSalle forecast earlier, up from US$16.5 billion spent on overseas estates in 2014.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
