Hong Kong-based Ping An Insurance is offering the loans for units at the Ramada Hotel Hope Harbour at Hope Island, owned by Brisbane’s Anthony Moreton Group and Pryde Group.
This story first broke via Bloomberg News, and then The Financial Review.
See the Gold Coast Bulletin‘s
For those who are interested, details on Ping An insurance can be found clicking the link.
Good or bad, or pure speculation for Gold Coast property? It depends on your perspective, but it must be said that this is Chinese institutional money and not individual so-called ‘hot’ money being lent by a blue chip Chinese insurer.
It remains to be seen if this type on Chinese investment is hotter or more stable than the others.