/*This article is translated from TheGuardian, which only represents the original source and the original author's point of view, and is for reference only, and does not represent the attitude and position of this website. */
A Chinese fund company has spent $499 million to acquire a very important development site called the Northern Gateway, adjacent to Western Sydney Airport.
(Image source: TheGuardian)
Roy & Ron Medich将这块面积为344公顷的土地出售给Roberts Jones Funds Management，随后引发人们的兴趣，因为该基金负责人Bob Gong和Jonathan Pan都是生面孔。
The "Northern Gateway" site is the airport's logistics and employment hub and an important strategic asset.
The Guardian confirmed that the acquisition did not require FIRB approval, as both Gong and Pan were Australian citizens.
Pan told the Guardian on behalf of Roberts Jones Funds Management that behind the fund was a consortium of major financial institutions with many investors, but could not reveal much more given the confidentiality agreement.
(Image source: TheGuardian)
Pan said that because he and Gong are Australian citizens, they do not need to be approved by the Foreign Investment Review Board.
The report pointed out that the Australian government has earlier expressed concern about China's increased investment in the Pacific region, while also being cautious about China's investment in key strategic assets in Australia.
公司记录显示,该基金的两位董事和唯一股东是龚博(Bo Gong,Bob,音译)和潘成佳(Cheng Jia Pan, Jonathan,音译),他们都是澳洲公民.
According to the report, another company called Boyuan Holdings Ltd (BHL) was involved in the development of Northern Gateway.
According to the Australian Financial Review, this is a Chinese property developer that has been listed on the Australian Securities Exchange. A BHL spokesperson said Roberts Jones Development Pty Ltd had appointed BHL as the development agent for the project given BHL's familiarity with the site and the Western Sydney Aero City.
"BHL will work with other local project management teams, consultants and contractors to transform Elizabeth Drive into an employment, logistics and mixed-use area serving the airport and the Greater Aerotropolitan," the spokesperson said. ”
According to the report, BHL had previously negotiated the purchase of the land, but it has now withdrawn and changed its status to the main developer.
According to reports, BHL's major shareholder is Shen Yuxing (also known as Shen Tianqing), founder and chairman of Hong Kong-listed real estate developer Jiayuan International Group. According to Forbes, he is worth $1.1 billion, making him one of the 100 richest people in China.
According to the Jiayuan website, Shen Yuxing has 81 real estate projects in Chinese mainland, covering cities such as Nanjing, Yangzhou, Changzhou, Nantong, Taizhou, Zhenjiang and Suzhou.
2016年,BHL开始在离机场地块不远的Bringelly、Austral和Marsden Park买地。
At the end of that year, Shen Yuxing had a brief exchange with then-Chancellor Albert at an event to promote how 3D printing technology could reduce costs in the construction industry.
In 2018, BHL made headlines for plans to lead a super-consortium to build a $22 billion city in Northern Gateway.
From left: Yingchuang Chairman Ma Yihe, Albert, Shen Yuxing (Photo source: TheGuardian)
BHL's plans are ambitious, including a new international university and education precinct, a health and medical centre led by world-renowned neurosurgeon Charlie Teo, a Westfield retail and entertainment precinct, and a high-tech logistics centre.
According to PwC's analysis, the proposed Northern Gateway development will create 38,000 jobs and generate $14.3 billion in economic output for Western Sydney.
According to the report, Jiayuan explained its international expansion in a 2019 press release, saying that it was involved in countries and regions along the "Belt and Road" initiative, such as acquiring land plots in Cambodia. The Guardian noted that the BHL plan had to be put on hold because it was unable to buy the Northern Gateway site from Roy & Ron Medich.
BHL's planned future city (Image: TheGuardian)
The spokesman did not say whether it was related to the Foreign Investment Review Board.
The Guardian said Gong and Pan worked as strategic advisors at BHL prior to the formation of Roberts Jones Development Pty Ltd. Originally from Henan, Gong studied for a master's degree in computer science at the University of Wollongong in the early 2000s and entered the real estate industry in 2006, selling off-plan projects mainly to investors of Chinese descent.
Pan, 40, is from Perth. Pan and Gong registered Haisheng Corporation in 2014 as shareholders including Leo Jia (now head of Macland Investment Group), Weijie Chen, and Haisheng China, which holds a 65% stake.
Known as "Golden Chen", Chen Weijie has a huge voice in the Chinese community, although his shareholding ratio is not high. According to the report, he is the majority shareholder of Australia Southeast Net Media and a member of the Fujian Federation of Returned Overseas Chinese, the Fujian Federation of Overseas Chinese Entrepreneurs and the Fujian Overseas Exchange Association.
In 2015, Haisheng bought a $30.5 million plot of land at Sydney's Olympic Park, where plans are to build a 245-unit residential tower. It also sponsors the Central Coast Mariners in the AFC Champions League.
According to the release at the time, "Haisheng has more than 20 years of experience in commercial, residential community and government infrastructure projects in 10 different provinces in China and is now seeking to become one of the fastest growing property developers in Sydney".
It is reported. In addition to real estate, the company is also involved in the export of beef to China. However, in 2016, the Guardian noted that Haisheng appeared to be in hibernation, with little activity, and the Olympic site was sold to another Chinese real estate company, Pan and Gong went to BHL, and now Roberts Jones Funds Management.
The NSW government has zoned the Northern Gateway site to be employment-oriented, so it is unlikely that the BHL "Small City" scheme will be approved.
Pan also said, "The original plan didn't work out, so Gong and I decided to pursue new opportunities in real estate development and fund management, and we founded Roberts Jones Funds Management, where we had a good relationship with our suppliers, access to a consortium of funds, and a strong network of contractors and consultants in the area, so we were confident that the project could be successfully completed." ”
In 1996, Roy & Ron Medich bought the site from CSIRO for $3.5 million, and the new deal has undoubtedly been a rewarding one. However, Ron will have to wait a while, and in 2009 he was sentenced to 39 years in prison for the murder of businessman Michael McGurk, and is still on appeal.