Investment restrictions could spell trouble for ASF Group

Uncertainty surrounds the ASF Group’s bid to develop an integrated resort in Gold Coast after new restrictions on foreign investment were announced by China’s government earlier this month.

According to the Gold Coast Bulletin, a key funding partner of ASF Group – state-owned China State Construction Engineering Company, is just one of the potential investors in the Gold Coast who may be affected by the policy changes.

Knight Frank agent Mark Witheriff said he was aware of at least two major deals, totalling around A$40 million, which have fallen after Chinese interests withdrew from “I suspect there will be a slowdown until people see the lie of the land in terms of property,” he said.

“There is still interest from Chinese groups but they may not be as bullish as they were,” he said.