Chinese developers are starting to venture overseas, chasing wealthy locals who are buying apartments from New York to Sydney as the government restrains the property market at home.
Xinyuan Real Estate Co. in September took control of a lot slated for more than 200 units of housing near New York’s Brooklyn waterfront for $54.2 million, a deal the Beijing-based company said is the first of its kind by a Chinese firm in the U.S. Country Garden Holdings Co., the developer controlled by China’s richest woman, said this week it will buy waterfront land in Malaysia. China Vanke Co., the country’s biggest builder, set up international units to expand overseas after it acquired a Hong Kong developer in May. Shanghai Greenland Group Co. is spending $1.3 billion on projects in Australia.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]