Hong Kong-based Golden Horse Group has signalled its long-term intent for the Australian property market with the official launch of its local arm, GH Australia in Sydney.
Specialising in property development, GH Australia will oversee the group’s projects in Australia including a $175 million apartment tower in Brisbane, a hotel on the Gold Coast and planned large-scale residential project in Sydney.
The group has also purchased golf resorts and development sites on the Sunshine Coast and Gold Coast.
GH Australia’s unveiling coincides with opening of the Sydney display showroom for its debut Australian development project, the 232-apartment Icon Milton in Brisbane’s inner west.
The project will be officially launched to the market later in the month.
GH Australia general manager Roger Luo said the decision to establish an Australian base reflected the company’s faith in the local property market.
“We have confidence in the long-term growth potential of the Australian residential property market,” he said.
“Icon Milton is the first of several projects we plan to undertake.
“The scale of our Australian property interests demonstrates a long-term commitment to our presence here.”
GH Australia’s interests include Noosa Springs Golf Resort and a housing development site on the Sunshine Coast, a major shareholding in the Gold Coast’s Hope Island Links Resort and a Hope Island site set to house 23 luxury homes which will be constructed this year, as well as a 400-room hotel.
GH Australia, through its parent company Golden Horse Group, has more than 25 years’ experience across prestige residential, tourism, sporting and recreational projects in China, including the Dragon Lake Resort in Guangzhou, which includes two championship 27-hole golf courses, a luxury hotel, recreational and commercial facilities.
Construction of Icon Milton is set to commence in mid 2015.