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Bahamas attracts big spenders in Beijing
Brief:According to real estate service provider Colliers International,a growing number of individual buyers from China have been snapping up properties overseas.
The $3.5 billion project, located in Nassau, capital of the Bahamas, is being wholly financed by the Export-Import Bank of China and built by China State Construction Engineering Co Ltd. Covering 400 hectares, the project includes four luxury hotels and other entertainment and sports facilities. It is expected to be completed in 2014.

According to a report by Industrial Bank Co Ltd and the Hurun Report Research Institute, the number of Chinese billionaires and millionaires is reaching a new peak. There are 2.7 million high net worth individuals in China with personal assets of more than 6 million yuan ($950,000).

And there are 635,000 ultra-high net-worth individuals with assets of more than 100 million yuan, an increase of 10 percent compared with last year.

Real estate and stocks remain the two most popular investment choices for the wealthy, the report said.

Since the central government moved to cool the domestic property market, a growing number of individual buyers from China have been snapping up properties overseas. Vancouver, Toronto, London and Singapore will be the most popular locations for real estate investors from the Chinese mainland in 2012, according to real estate service provider Colliers International.

Juwai
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