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Starryland News

Greenland Holdings Zhang Yuliang and the Chinese property investment push

Shaoqun Tan, the chairman of Fuxing Huiyu Real Estate, says the Chinese government has actively encouraged big real estate companies to expand overseas so that they can keep growing without overheating the local market.

Under the banner Starryland, Tan’s group, which is based in the Chinese province of Hubei, west of Shanghai, entered the Sydney market this year and is developing the $550m Promenade Parramatta apartment project.

The apartments range from $399,000 to $900,000, with real estate firm Savills handling the sales campaign.

Tan says Australia is the first country in which his company has expanded. “We were drawn to (Australia) by its strong residential real estate market, stunning natural environment and good long-term economic growth prospects.”

Fuxing Huiyu was established in 2001 as the property arm of manufacturing company Hubei Fuxing Science and Technology. “I foresaw the strong future of this industry with China experiencing a large demand for urbanisation as millions of citizens were trying to increase their living standards,” says Tan. “It is certainly evident 13 years later that my career strategy was correct and my property predictions were accurate.”

He says he is “motivated by constant progress”. “I get the most satisfaction implementing outside-the-box ideas that ultimately end up proving their value. I like to be constantly challenged.”

Greenland Holding’s Zhang Yuliang and the Chinese property investment push

Shaoqun Tan, the chairman of Fuxing Huiyu Real Estate, says the Chinese government has actively encouraged big real estate companies to expand overseas so that they can keep growing without overheating the local market. Under the banner Starryland, Tan’s group, which is based in the Chinese province of Hubei, west of Shanghai, entered the Sydney market this year and is developing the $550m Promenade Parramatta apartment project. The apartments range from $399,000 to $900,000, with real estate firm Savills handling the sales campaign. Tan says Australia is the first country in which his company has expanded. “We were drawn to (Australia) by its strong residential real estate market, stunning natural environment and good long-term economic growth prospects.”

Fuxing Huiyu was established in 2001 as the property arm of manufacturing company Hubei Fuxing Science and Technology. “I foresaw the strong future of this industry with China experiencing a large demand for urbanisation as millions of citizens were trying to increase their living standards,” says Tan. “It is certainly evident 13 years later that my career strategy was correct and my property predictions were accurate.” He says he is “motivated by constant progress”. “I get the most satisfaction implementing outside-the-box ideas that ultimately end up proving their value. I like to be constantly challenged.”

Rising Stars – Parramatta, Australia – 153 riverside apartments

Starryland Australia has released the third building in its Promenade residential development in Parramatta, rated ‘Sydney’s most liveable city’ by the Urban Development Insti-tute. The new 12-storey building will contain 153 apartments on the northern bank of the Parramatta River, just minutes from the Parramatta city centre.

It is expected to attract the same level of excitement as did Promenade’s first two buildings (124 apartments) which sold out on the launch weekend in May 2014, with the majority of apartments selling in just hours. Both of these buildings are now under construction with completion in late 2016.

Savills Residential is expecting great interest from both owner occupiers and investors, with sales to date evenly split between the two. Irene Lau, a Director of Savills Residential Projects, said “There were a lot of young couples making their first property purchase, knowing that this development will provide a healthy lifestyle in which to raise their family, close to quality schools, universities and hospitals. For business people the close proximity to transport, dining, shopping and recreational facilities were influencing factors”.

Apartments in Building Three will feature high ceilings and generous balconies or courtyards with glass balustrades to maximise views of the river and the Parramatta CBD. Kitchens feature a stone island bench with fully-integrated Bosch gas appliances.

The high level of finishes include accents of bronze or copper mirrors throughout the bathrooms and kitchens and circular mosaic tiles in the bathroom.

On completion, Promenade will have 1.2 hectares of landscaped foreshore open space, a pedestrian bridge across the river, an extensive walking and cycling network, and an end value of approximately AUD $550 Million (USD $509 million).

Apartments in Building Three comprise:

  • (6) one-bedrooms (44.2 – 49.4 sqm) from AUD $440,000 (USD $407,400)
  • (17) one-bedrooms plus study (46.7 – 69.9 sqm) from AUD $465,000 (USD $430,542)
  • (125) two-bedrooms (63.1 – 98.8 sqm) from AUD $585,000, (USD $541,649) and
  • (5) three-bedrooms (83.8 – 112.4 sqm) from AUD $850,000 (USD $786,975)

The apartments have one or two security car spaces, while there are 70 visitor parking spots allocated for the development.

Parramatta Lord Mayor Cr John Chedid said, “Promenade is an exciting development and a welcome addition to our expanding skyline, bringing more residents into our thriving CBD and modernising the riverfront.”

Starryland Australia is a local division of the publicly-listed Fuxing Huiyu Real Estate Company Ltd, which develops more than one million square metres of property per year in China. The Promenade project is its first foray into Sydney.

“The resort-style living at promenade will offer an active outdoors lifestyle in a beautiful location that is well connected to the Parramatta CBD,” said James Swete, the Sales and Marketing Director for Starryland Australia.

The eight Chinese property developers to watch emerging across Australia

Chinese developers are making their presence increasingly felt in Australia and it doesn’t seem that they’re set to slow down.

While Sydney and Melbourne has typically been a popular spot for Chinese apartment developers, it appears that larger companies are looking far and wide across Australia’s market for opportunities.

Starryland Australia

Fuxing Huiyu Real Estate Co Ltd, the 23rd largest publicly-listed company in China, is making waves. Their first Australian foray has been the much-publicised $550 million spend across 11 apartment towers in Sydney’s Parramatta through newly created Starryland Australia. Promenade Parramatta, their creation, saw the land for the development bought in September last year by Starryland after their June 2013 formation. They are, however, Melbourne-based.

Starryland secure further Promenade, Parramatta apartment sales

Further sales were secured in the Parramatta apartment project Promenade through Savills Residential Projects.

It has sold 115 of the 153 apartments in building three at Promenade, a five hectare site which is being developed by Starryland Australia, the local arm of the giant Chinese property group, Fuxing Huiyu Real Estate Company Ltd.

Prices ranged from $440,000, for a one-bedroom apartment.

The apartments in building three comprised:

  • (6) one-bedrooms (44 – 49 square metres) from $440,000
  • (17) one-bedrooms plus study (46 – 69 square metre) from $465,000
  • (125) two-bedrooms (63 – 98 square metres) from $585,000, and
  • (5) three-bedrooms (83 – 112 square metres) from $850,000

Fewer than 40 apartments remain for sale.

Buyers, who registered their interest with a $3,000 refundable deposit, were invited to attend the launch last Saturday morning.

Irene Lau, from Savills Residential Projects, said more than 70% of purchasers were owner-occupiers.

Promenade‘s initial two buildings of 124 apartments sold out over one weekend in May. Both buildings are currently under construction with completion in late 2016.

Located in Morton Street just 1.2 kilometres east of the city centre, Promenade will have 1.2 hectares of landscaped foreshore open space, a proposed pedestrian bridge across the river and an extensive walking and cycling network.

James Swete, the sales and marketing director of Starryland Australia, said Promenade would provide resort-style living.

Starryland secure further Promenade, Parramatta apartment sales

sales were secured in the Parramatta apartment project Promenade through Savills Residential Projects.

It has sold 115 of the 153 apartments in building three at Promenade, a five hectare site which is being developed by Starryland Australia, the local arm of the giant Chinese property group, Fuxing Huiyu Real Estate Company Ltd.

Prices ranged from $440,000, for a one-bedroom apartment.

The apartments in building three comprised:

  • (6)  one-bedrooms (44 – 49 square metres) from $440,000
  • (17) one-bedrooms plus study (46 – 69 square metre) from $465,000
  • (125) two-bedrooms (63 – 98 square metres) from $585,000, and
  • (5) three-bedrooms (83 – 112 square metres) from $850,000

Fewer than 40 apartments remain for sale.

Buyers, who registered their interest with a $3,000 refundable deposit, were invited to attend the launch last Saturday morning.

Irene Lau, from Savills Residential Projects, said more than 70% of purchasers were owner-occupiers.

Promenade‘s initial two buildings of 124 apartments sold out over one weekend in May.

Both buildings are currently under construction with completion in late 2016.

Located in Morton Street just 1.2 kilometres east of the city centre, Promenade will have 1.2 hectares of landscaped foreshore open space, a proposed pedestrian bridge across the river and an extensive walking and cycling network.

James Swete, the sales and marketing director of Starryland Australia, said Promenade would provide resort-style living.

Starryland’s Promenade Near Sell-Out Opening

Starryland Australia’s Promenade development in Parramatta, received strong sales as the third building was released over the weekend.

Savills Residential Projects sold 115 of the 153 apartments in Building Three at Promenade which is being developed by Starryland Australia, the local arm of the giant Chinese property Group, Fuxing Huiyu Real Estate Company Ltd.

The strong demand mirrored that of Promenade’s initial two buildings, comprising 124 apartments, which sold out over one weekend in May.

More than 70 per cent of the buyers were owner-occupiers.

Prices ranged from $440,000 for a one-bedroom apartment to $995,000 for a three-bedroom apartment.

Parramatta accommodates 30 per cent of Australia’s top 500 businesses, triggering $8 billion worth of commercial and residential development in coming years.

“Promenade is in keeping with the style of residential communities we create in China, and we want it to set a benchmark to establish our credentials in Sydney as a quality developer,” Mr Hao Liu, the Director of Starryland Australia.

Designed by architect William Smart of Smart Design Studio, with 1.2 hectares of landscaped frontage, Promenade is set to create a new face for the riverfront.

“It will bring more residents into our thriving CBD and further modernise our riverfront,” said Parramatta Lord Mayor Cr John Chedid.

The initial two buildings of Promenade are currently under construction.

Off-the-plan Parramatta apartments will go on sale tomorrow and are expected to sell fast

More than 100 waterfront apartments in Parramatta are set to go off tomorrow when they hit the market.

The 12-storey building three of the suburb’s latest residential development, Promenade by Starryland Australia, comprises of 153 apartments in a range of sizes and styles that will all go on sale in the morning.

First look at the new off-the-plan building three apartments of Promenade in Parramatta. Source: Supplied

The development’s initial release, back in May, saw all 124 apartments from buildings one and two combined sold over the launch weekend, with most secured in less than four hours.

Director of Starryland, Hao Liu, said the luxury units were aimed at local residents, as opposed to other off-the-plan sales in the area, which have proved popular with investors.

An artist’s impression of building three of Promenade shows a sleek, modern design. Source: Supplied

“Sales records from the first two buildings showed they were majorly purchased by local buyers. Investors came in at around 30 per cent and the rest were owner-occupiers,” Mr Liu said.

“This release is offering similar price ranges and we are expecting to sell more than 80 per cent to owner occupiers this time,” he said.

Prices for a one-bedroom apartment (44.2 – 49.4 sqm) start from $440,000 and at the higher end, three-bedroom (83.8 – 112.4 sqm) apartments have an asking price of more than $850,000. Potential buyers are now able to get an idea of what the development and apartments will look like.Source: Supplied

“The prices are kind of at entry-level so it is easy to invest and is also suitable for first-home buyers,” Mr Liu explained.

The new building will be set at the northern bank of Parramatta River and will offer water views when completed. Each apartment will come with luxury inclusions, showcasing a contemporary design.

James Swete, sales and marketing director of Starryland, said purchasers were buying into a lifestyle.

The kitchen in the display suite shows stone benchtops, gas appliances and a modern layout.Source: Supplied

“It is resort-style living in a prime waterfront location. A lot of people also like being close to schools, the University of Western Sydney and good transport links,” Mr Swete said.

He said the five hectare development, just over 1 kilometre east of Parramatta CBD, would promote an active lifestyle with its 1.2 hectares of landscaped open green space, a pedestrian bridge across the river and walking and cycling tracks.

Walls of glass windows, balconies and courtyards will provide easy views of the river and CBD.Source: Supplied

A new display suite showing a full kitchen, bathroom and living area, has been opened for Promenade.

At 1/28 Macquarie Street, Parramatta, potential buyers can see the high quality of interiors which will be used in the apartments.

The $550 million development is already under construction. Buildings one and two are due for completion at the end of 2016.

What you can buy

  • (6) one-bedrooms (44.2 – 49.4 sqm) from $440,000
  • (17) one-bedrooms plus study (46.7 – 69.9 sqm) from $465,000
  • (125) two-bedrooms (63.1 – 98.8 sqm) from $585,000, and
  • (5) three-bedrooms (83.8 – 112.4 sqm) from $850,000

Apartments in building three will feature high ceilings, spacious balconies or courtyards with glass balustrading, a stone island bench and Bosch gas appliances in the kitchen, and bronze or copper mirror accents throughout the unit. They each come with one or two secure parking spots.

Parramatta Promenade bucks trend with 74% owner occupier interest

Despite off the plan apartments increasingly attracting investor attention, from both Australian and offshore buyers, Parramatta’s Promenade has seen 74% of its current early buyers identify as owner occupiers.

The five-hectare waterfront development is on Parramatta’s northern bank, and of those providing a registration of interest deposit – $3,000 – the majority are looking to live in the Promenade development.

Irene Lau, a director of Savills Residential project marketing, said that it’s due to the focus on lifestyle from Starryland Australia developers.

“People appreciate that Promenade will provide a healthy lifestyle in which to raise their family, especially given its close proximity to quality schools, universities and hospitals,” she said.

“Promenade will also have expansive lush landscaping, tree-lined streets and a central square.”

It will include 1.2 hectares of landscaped foreshore open space.

The 12-storey building three hits the market on 2 August, offering 153 apartments.

Starryland Australia was established by the 23rd largest publicly-listed company in China, Fuxing Huiyu Real Estate Co Ltd. Promenade will be across 11 towers and 774 apartments in a $550 million project, and Starryland’s first foray into Australia.

Starryland Australia reveals the latest of the ‘Promenade’ development

The third building in the Promenade residential development in Parramatta has just been released by Starryland Australia and has an end value of approximately $550 million.

The new 12-storey building will contain 153 apartments on the northern bank of the Parramatta River, just minutes from the Parramatta city centre. Parramatta has now been rated Sydney’s most liveable city by the Urban Development Institute. It is expected to attract the same level of feverish excitement as did Promenade‘s first two buildings (124 apartments) which sold out on the launch weekend in May 2014, with the majority of apartments selling in just hours. Both of these buildings are now under construction with completion in late 2016.

Building Three is expected to attract a lot of young couples or business professionals making their first property purchase as the area provides a healthy lifestyle in which to raise their family, close to quality schools, transport links, restaurants and cafes, shopping centres, recreational facilities, universities and hospitals. Parramatta is a city of its own.

The apartments will also feature high ceilings and spacious balconies and courtyards with glass balustrades to maximise views of the river and the Parramatta CBD. Kitchens feature stone island benches with high level finishes which include accents of bronze or copper mirrors throughout both the bathrooms and kitchens.

On completion Promenade will have 1.2 hectares of resort-style landscaped foreshore open space, a pedestrian bridge across the river and an extensive walking and cycling network.

Apartments in Building Three comprise of:

  • 6 x one-bedrooms (44.2 – 49.4 sqm)
  • 17 x one-bedrooms plus study (46.7 – 69.9 sqm)
  • 125 x two-bedrooms (63.1 – 98.8 sqm)
  • 5 x three-bedrooms (83.8 – 112.4 sqm)

The apartments have one or two security car spaces, while there are 70 visitor parking spots allocated for the development.

Starryland Australia has built a display centre at 1/28 Macquarie Street, Parramatta which features a full kitchen, bathroom and living area to showcase the quality of the interiors designed by architects, Smart Design Studio.

Overall Promenade is an extensive addition to Parramatta’s growing skyline and is a landmark development for Western Sydney.