In February, Hong Kong-listed Chinese property developer Country Garden Co., Ltd. invested 73 million Australian dollars to buy a development site in northwest Sydney.
The deal follows a number of large Chinese real estate developers’ earlier investments in Australia, reflecting increasingly diversified investment in the region by Chinese investors.
Annual investment from China to Australia grew to US$10.4 billion in 2012 from US$233 million in 2006.
The number is expected to grow another 15% in 2013, according to a report published jointly by real estate consultancy firm Knight Frank, KPMG and law firm King & Wood Mallesons.
The report finds that Chinese investors mostly focused on the mining sector in Australia over the past six years. But they are more active in other industries such as agriculture and real estate.
Big deals include China Investment Corporation’s 305 million Australian dollar purchase of three buildings in Sydney late last year.
Shanghai-based Greenland Group also acquired the former Water Board site in Sydney’s central business district for approximately 107.5 million Australian dollars last March.