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Chinese developers invest in Parramatta
Brief:Australia's fourth largest CBD will soon be Parramatta, thanks to Chinese property developers.
Australia's fourth largest CBD will soon be Parramatta, in Sydney's west, thanks to Chinese property developers.
 
Parramatta is seeing a surge of investment interest with billions of dollars’ worth of new office towers and residential complexes drawing investors in to the area.

It is soon to be the home of a major Chinese property development company and hundreds of new unit blocks.

The development is a local division of a Chinese-based company Fuxing Huiyu.

They're known for building mega communities in the Chinese city of Wuhan, where thousands of residents live in 50 storey towers.
 
The Promenade is one of Parramatta's biggest residential developments yet.

Hao Liu, the director of Starryland Australia, says that's a normal size for apartment blocks in China.
 
"Looking forward to the next 10, 20 years, we know this city's going to be a next chapter for greater Sydney,” Lui told SBS. “From our experience we know it will be a better and a bigger in the future."

The firm has also spent $18 million securing a prime development site in Melbourne's Southbank.
 

www.sbs.com.au
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