(Source: Times Online)

THE Chinese are on their way. A Hong Kong billionaire has followed the waves of Russian oligarchs, Indians and Arab entrepreneurs by snapping up one of London’s most expensive homes.

Joseph Lau, who has a £2.5 billion fortune, has spent £33m on a six-floor mansion in Eaton Square, Belgravia. The white stucco house has its own cinema, a swimming pool, gym and servant quarters.

Lau, who is the chairman of Chinese Estates Holdings, a property development company, may be at the head of a line of other Chinese super-rich buying in London’s most exclusive areas. Although his mansion was bought by an offshore company, it is intended for his personal use.

Read Anna Mikhailova’s full article “Chinese super-rich eye London homes” in the Times Online (January 17, 2010).

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