• Busy Melbourne

Asian buyers are snapping up hotel properties in Melbourne, with two major deals just struck. Chinese investor Fu Wah International has bought the Park Hyatt, while Singaporean investor World Class Land has grabbed a development project, reports the Sydney Morning Herald.

Fu Wah paid a reported AUD135m for the landmark Park Hyatt. World Class has paid AUD42.3m for Australia 108, a proposed hotel and apartment tower on the city’s Southbank.
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