The new dynasty: Australia is fast becoming a magnet for investment by overseas Chinese families

The trigger for investments in Australia by the overseas Chinese has been the strong Australian dollar and the surplus of commercial property available in 1991-1993. Since then, several Chinese families from Singapore, Hong Kong, and Malaysia have invested in diverse Australian markets. Robert Kuok and main rival Ong Beng Seng are the two most influential investors in Australian markets. Kuok owns the $120 million apartment block in Sydney. Ong has sold Australian hotel properties for a total of $50 million.