Chinese billionaire Xu Jiayin arrives on Gold Coast in private jet with sights set on acquiring five star hotel
CHINA’s fifth richest man, worth an estimated $7.5 billion, has arrived in his private jet with his sights set on five star luxury Main Beach resort.
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HE’S richer than James Packer, has an entourage of bodyguards and is looking to buy the Sheraton Mirage Resort and Spa.
China’s fifth richest man Xu Jiayin, whose estimated wealth is $7.5 billion, arrived on the Coast with a team of up to 25 attendants in his private Airbus A319 at the weekend.
The billionaire stayed at Palazzo Versace and met with international property agent Roland Evans of Canford Property Group, who recently brokered the deals for the billion-dollar Jewel development and the $11.5 million sale of two Esplanade blocks to a Singaporean luxury hotel group.
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Mr Evans confirmed he had met with Mr Xu this week, but could not reveal what had been discussed.
However, it is understood the billionaire was shown through the Sheraton at Main Beach with a view to negotiate a sale.
The Christopher Skase-built resort was listed for sale in August, and was expected to fetch up to $120 million.
Current owner Pearls Australasia bought it for $62.5 million in 2009 and has spent $26 million restoring its lustre.
Mr Xu’s Hong Kong-listed, Guangzhou-based company Evergrande owns properties throughout China and has recently expanded into grain and other agribusiness ventures.
High-profile entrepreneur and China’s richest man, Jack Ma, of Alibaba fame, has a minority share of the company, which also owns the successful Guangzhou Evergrande soccer team.
According to online flight trackers, the Evergrande plane has also visited Denpasar, Sydney and Brisbane in the past week.
Mr Xu is the latest in a procession of super-wealthy Asians to hit the city looking to splash their cash.
China’s second richest man, Wang Jianlin, visited in June ahead of his Dalian Wanda Group’s $300 million investment in Jewel.
A month later Chinese Weimin Huang, chairman and CEO of Purun Holdings, visited the Coast to look for investments — and also to donate new gates for the city’s Chinatown project.
Earlier this year, representatives from Singaporean hotel giant Banyan Group, including executive chairman Ho Kwon Ping, who plans to build the city’s first five-star hotel to break ground since the GFC.
According to Chinese property website Juwai.com, Chinese buyers spent US$37 billion on international residential property in 2013, with 70 per cent paying for them with cash.
Mr Xu’s jet was set to leave the Coast for Cairns from Coolangatta yesterday.
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