China Oceanwide Holdings plans to build the second-tallest tower in San Francisco. In the past two years, China Oceanwide Holdings Group Co. and its chairman, Lu Zhiqiang, have poured hundreds of millions of dollars into U.S. West Coast commercial and residential real estate industries. The company invests in the financial industry, with holdings in banks, brokerage, trusts, and insurers. It also has investments in energy, advertising and print media in China. With a slowing Chinese housing market and room for growth in the U.S., America has become increasingly attractive to fast-growing Chinese firms.
Excerpts from the Article:
A Chinese real-estate firm known for its big investments at home is casting its net much farther afield, becoming one of the most aggressive property buyers in California.
China Oceanwide Holdings Group Co. and its chairman, Lu Zhiqiang, have poured hundreds of millions of dollars into U.S. West Coast commercial and residential real estate in the past two years, far from the company’s traditional turf of projects in cities such as Beijing and Wuhan. The buying spree shows how, amid a wave of foreign money coming into U.S. commercial real estate, Chinese investors often top the list.
Citation and link:Brown, Eliot. “Chinese Real-Estate Firm Looks West-to California.” WSJ News., 27 Jan. 2015 Web. 04 Feb. 2015. http://www.wsj.com/articles/chinese-real-estate-firm-looks-westto-california-1422385081