In 2016 Australia rose to second place after Japan for cross border capital inflow in the Asia Pacific region, largely due to an increase in China's investment in Sydney's CBD, up 44 per cent from $4.5 billion the year before to $6.46 billion. In May 2013 Savills set the record for the highest price for a development site in Brisbane with the sale of the Supreme Court site at 300 George Street for $63M to the Taiwanese developer Shayher Group, to become a mixed-use precinct including a five-star hotel. Shayher Group was required to build a 65,000sqm residential, serviced apartment tower and a 45,000sqm commercial office tower.