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Australia orders China firm to sell Sydney mansion
Add BT as a preferred sourcePublished Tue, Mar 3, 2015 · 09:50 PM
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Canberra
AUSTRALIA'S government has ordered a company owned by China's Evergrande Real Estate Group to sell an A$39 million (S$41.4 million) Sydney mansion as it cracks down on illegal home-buying by foreigners.
Golden Fast Foods has 90 days to sell Villa del Mare in the harbourfront suburb of Point Piper, Treasurer Joe Hockey said on Tuesday. The luxury villa was purchased in November 2014 via a string of shelf companies in Australia, Hong Kong and the British Virgin Islands, Mr Hockey said.
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