The Australian arm of troubled Chinese property giant Country Garden, Risland Australia, has struck a deal to sell its remaining landholdings in Sydney, a move that will mark the developer’s full exit from Australia, reports the South China Morning Post. Avantaus, another Chinese-backed private developer with a presence in Australia, previously known as Sunglow, has placed an option to buy the remaining parcels of land at the housing estate of Wilton Greens in Sydney’s southwest for about A$240 million ($157 million). Risland on Wednesday confirmed it had entered into an agreement “to divest its partial interest in the Wilton Greens development, encompassing stages three to six of the project, totalling around 330 hectares of residential subdivision”, and said it would continue to develop the first stages of the development which it had been selling.
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