RESEND: China's Shanghai Zendai to quit Gulf Harbour

Sun, 03 May 2015

(Fixes Whangaparoa typo in lede) By Paul McBeth May 4 (BusinessDesk) - China's Shanghai Zendai Property plans to quit its stake in a property developer building high-end residential houses and commercial sites on the Whangaparoa Peninsula north of Auckland. The Hong Kong Exchange-listed company was part of a syndicate including Shanghai Pengxin's Jiang Zhoabai which bought Jamie Peters' Gulf Harbour development out of receivership in August 2012 for $35 million, but has since decided to sell its 45 percent stake in holding company Top...

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