The Goldie catches a Chinese property cold

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Via the AFR:

Chinese developer Forise is tossing up taking on a joint venture partner for its $1.2 billion high-rise luxury residential tower “Spirit” in Surfers Paradise on the Gold Coast, or sell the site altogether, as it struggles to sell apartments.

…The DBI-designed Spirit 89 storey tower with 479 apartments is currently on the cards – touted as the Gold Coast’s tallest tower…

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.