Deals
Australia Orders China Firm to Sell Illegally-Bought Mansion
This article is for subscribers only.
Australia’s government ordered a company owned by China’s Evergrande Real Estate Group Ltd. to sell a A$39 million ($31 million) Sydney mansion as it cracks down on illegal home-buying by foreigners.
Golden Fast Foods Pty has 90 days to sell Villa del Mare in the harborfront suburb of Point Piper, Treasurer Joe Hockey said in a statement Tuesday. The luxury villa was purchased in November 2014 via a string of shelf companies in Australia, Hong Kong and the British Virgin Islands, Hockey said.