western sydney airport leppington triangle badgery's creek
(Image: AAP/Mick Tsikas)

Half a billion dollars. A secretive fund with links to a major Chinese developer. And one of the most lucrative pieces of land in the country. Who is behind the latest land deal raising questions next to the new Sydney airport?

A mysterious fund controlled two relatively unknown property figures has stumped up $499 million for one of the biggest and most important development sites next to the airport.

The Northern Gateway site, not far from the now notorious Leppington Triangle, has been earmarked for a manufacturing hub and support precinct for the airport and includes plans for a new metro station.