March 2017

APAC / March 2017 63 K Website: Mobile: +61 418 748 588 Email: [email protected] Sabina Corporation Limited g request for 100% project funding. The banks soon changed their tune when they found out the stature of Kumagai Gumi in Japan.” Kumagai Gumi subsequently bankrolled over $8 billion worth of projects via joint ventures with second tier developers in every state. “I believe the Australian property industry is indebted to Tony Mitani for his contribution towards funding and for sponsoring most of the iconic landmark buildings in Australia in the 80s and early 90s.” In early 1990’s, Sabina headed a small consortium and submitted a USD $1.2 billion development proposal on a prime 22-acre city site for the financial centre & stock exchange of almost 1 million square meters of prime buildings in Tianjin City in Northern China. Chen has visited China over 36 times mainly connected with this project. In September 2008, Chen was invited to China and was presented “the Award for Outstanding Chinese Entrepreneur” at the Third Chinese Enterprise Association Summit held in the Great Hall in Beijing. “The development industry is moving into a new era with many new Chinese developers making significant investments in the property market in Australia. They are now major players in Australia and the important factor that these newcomers need to learn is the adoption and practice of corporate governance behaviour and the need to properly abide by rules in the local town planning schemes.” Sabina currently has a few innovative projects in the pipeline including a themed lighthouse hotel, lifestyle village resort, mixed-use development site (30,010m2) at Coomera; and a world-class columbarium planned in Australia. “My final task is to find a suitable person to take over as CEO of Sabina and to guide the company into the future; then I will go fishing,” said Chen.