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Glittering skyscraper plans fall over, buyers refunded

Finance Markets / Latest Activity

Australia

Nov 02 2017

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Simon Johanson, The Sydney Morning Herald

At least 581 apartment buyers have been left in the lurch after a Singaporean developer pulled the plug on a glittering 71 storey Melbourne tower following a long and bitter legal battle that undermined the project.

Developer CEL Australia, a subsidiary of Singapore-listed construction giant Chip Eng Seng, will be forced to refund an estimated $50 million in buyer deposits after cancelling its Tower Melbourne project.

Go to The Sydney Morning Herald and read the full story.

SOURCE: The Sydney Morning Herald

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