Highlands News

Takeover announcement for Aoyuan

chelsea

The developer of the Chelsea Coomungie project in Moss Vale has announced a $200 million dollar takeover of Sydney Property developer Capital Bluestone.

Aoyuan International will be buying out the majority of the company and in doing so will increase its residential footprint by about $2 billion in project value.

The Financial Review reports the Chinese developer is one of the only few residential development companies to be active in the housing downturn.

IMAGE CREDIT: Wingecarribee Council