Grosvenor Place in Sydney. The long-term trend of Chinese investment shows that it has been declining, which suggests that geopolitical tensions have impacted Australia’s attractiveness as an investment destination. Photo: Handout
Canberra gives go-ahead for China Investment Corporation to buy bigger stake in Sydney’s iconic Grosvenor Place tower
- China’s sovereign wealth fund agreed to buy an additional stake in Grosvenor Place for A$925 million in November last year, but had to wait for approval from Australia’s Foreign Investment Review Board
- Approval means CIC will own 75 per cent of the 44-storey building
Grosvenor Place in Sydney. The long-term trend of Chinese investment shows that it has been declining, which suggests that geopolitical tensions have impacted Australia’s attractiveness as an investment destination. Photo: Handout
