Why FWL directors compare Elizabeth Quay development with development in China?
Different income between Australia and China. Different tax system in property investment Different labour cost to build Different quality of building Different size of apartment Etc.
Most importantly, a lot of apartments already pre-sold BEFORE development eg Q1, Soul in Gold Coast.
Lend Lease will develop Barangaroo and I think they sold ALL apartment before even lay a single brick on the ground. Same as Lend Lease' Jackson Landing... sold out before building.
While China usually sell 5-10% of apartment AFTER building finished.
PS iron ore is down to $91/t, expect going down much further.
Just IMHO.
LCG Price at posting:
1.9¢ Sentiment: ST Sell Disclosure: Not Held
