Greenland Holding eyes overseas property market

Shanghai-based Greenland Holding Group Co plans to invest $10 billion overseas next year, showing its commitment to tap the global real estate market.

To date, Greenland's overseas investment has exceeded $10 billion. "The company will pour in the same amount of money next year," it said in an e-mailed statement on Monday.

The firm has just launched two projects in Sydney, with a total investment of 6 billion yuan ($978 million), the largest investment in Australia by a Chinese developer.?

About 250 apartments have been snapped up since the project opened for sale last month, with the sales value exceeding 1.5 billion yuan.

"Chinese enterprises' overseas expansion will be accelerated, along with the country's robust economy and Chinese enterprises' global ambitions," Greenland's chairman Zhang Yuliang said.