PHOTO: The 400-hectare property at Fame Cove owned in a company name by Phillip Dong Fang Lee and Xiaobei Shi.
Chinese billionaire property developer Phillip Dong Fang Lee and his wife Xiaobei Shi should be best known among Sydneysiders for their palatial purchase of a Point Piper home Mandalay, given it cost $40 million. But it is their company-owned property on the state’s North Coast that garners the most attention – for repeated environmental damage.
The company has run foul of government regulators for the third time since the 400 hectares of pristine bushland near Port Stephens was bought in 2006 for $8.8 million, last week incurring fines totalling $88,000 and an additional $20,000 in costs, and raising concerns among locals about what grand plans are in store for a property that was once offered to the state government as a national park.
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