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International luxury brands get involved in the Chinese real estate industry

On December 2013, the Italian luxury brand Tonino Lamborghini announced that they were preparing to enter the Chinese high-end real estate industry. Dr. Gong, chief representative of Tonino Lamborghini Asia-Pacific “We (Lamborghini) will only focus on the high-end real estate projects in China, such as luxury villas or 5A class office buildings, and will only cooperate with a few domestic leading developers.”

However, Lamborghini isn’t the first luxury brand that announced entry into the China real estate industry, Armani beat them to it. In early 2014, the Armani Group made an announcement in Milan that the Giorgio Armani Interior Design Studio together with China Mind Group was investing in a luxury residential project in Chengdu. This project called Armani/ Casa Art Residence will be the first Chinese residential real estate project designed by an international luxury brand. The apartments are planned to start selling in the second half of 2014 with a target price of 30,000 – 40,000 RMB per sqm making them the….

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