middle east – realestatesource https://www.realestatesource.com.au Commercial and residential property news Tue, 29 Sep 2009 12:26:09 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.4 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png middle east – realestatesource https://www.realestatesource.com.au 32 32 Billionaire James Packer Sells Sunland Shares For $28 Million https://www.realestatesource.com.au/billionaire-james-packer-sells-sunland-shares-for-28-million/ Tue, 29 Sep 2009 12:26:09 +0000 http://realestatesource.com.au/wordpress/billionaire-james-packer-sells-sunland-shares-for-28-million.html BILLIONAIRE James Packer has sold his interest in Gold Coast based developer Sunland, for $28 million.

It is reported Sunland purchased about half of the 35 million shares, which were valued at 80 cents each.

Mr Packer held a near 12 per cent stake in the developer, whose portfolio includes developments in Australia and the Middle East.
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Mr Packer’s Consolidated Holdings paid $1.87 per share in March 2006 to into Sunland, which has been hit by the economic dowturn, affecting many new developments particularly here and in Dubai.

Sunland refused to comment on the transaction, the AFR reports today.

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