Monika Tu's rise from Paddy's Markets stall to $200 million in mansion sales to Chinese investors - News Summed Up

Monika Tu's rise from Paddy's Markets stall to $200 million in mansion sales to Chinese investors


Ms Tu, 57, caters almost exclusively to mega-rich Chinese high-rollers snapping up top-priced homes in Australia's most exclusive suburbs. After graduating in 1992 she moved to Sydney and began working at a computer shop in Paddy's Markets selling floppy disks, CDs, and electronics. Black Diamondz was originally founded to support Chinese immigrants as they adjusted to life in Australia - support Ms Tu didn't have when she arrived. But soon after she started, a friend connected her to a rich Chinese buyer looking to purchase high-end real estate in Australia. Half of the sales, all homes costing $7.25 million to $19.5 million, were to Chinese immigrants already in Australia, while others are stashing their millions in property before the yuan is hit by inflation.


Source: Daily Mail July 05, 2020 16:22 UTC



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