Macau (MNA) – The chairman of local Rio Hotel & Casino, Loi Keong Kuong, has purchased a shopping centre in a seaside luxury complex on the Australian Gold Coast for some A$90 million (MOP538 million/US$66.6 million), the Australian Financial Review has reported.
The 7,012 square metre shopping centre, named Soul Boardwalk, is at the base of Soul Tower, a A$850 million residential resort tower in Surfers Paradise, the entertainment and tourism centre of the Gold Coast in Queensland, Australia.
The residential tower and its 288 luxury apartments are owned by Mantra Group, the largest hotel and resort group in Australia, which decided to place the retail space in the property on sale through services firm PwC with a price tag of A$80 million.
The report also pointed to the local businessman as the individual responsible for the purchase of a commercial property in Sydney for A$265 million in May, with the gaming businessman having also bought the headquarters of oil and gas company ExxonMobil in Melbourne for A$160 million in 2016.
The purchase follows a deal made in April when a 12-storey office and retail building in Melbourne sold for A$40.1 million to H Group Australia, a company belonging to Ho Ho Brothers, a firm linked to racing driver Henry Ho, the son of local real estate businessman Ho Chun.
In recent years, the appeal of the Australian real estate market has attracted many Macau-based buyers, with just four deals having generated more than A$500 million in investment.
