Fosun in venture to buy Sydney office building for A$116.5m

Hong Kong

CHINA'S Fosun Group and fund manager Propertylink are buying a Sydney office building for A$116.5 million (S$124.3 million), the second large real estate purchase this week in the city as Chinese firms scout for investments abroad.

They will buy the 14,672- square-metre tower at 73 Miller Street in North Sydney, according to statements from the two buyers. The building will be held by Fosun's insurance unit, the Chinese company said.