As some South Florida real estate firms and developers focus their efforts on Chinese buyers, Aventura-based ISG World has partnered with Homelink International Inc., one of China’s top real estate firms.
The Chinese company has more than 3,500 offices and 60,000 agents in 17 cities, according to a press release. The partnership, which marks the firm’s first long-term partner in Florida, was announced at The Real Deal’s U.S. Real Estate Showcase & Forum in Shanghai in September.
Homelink, Beijing’s largest real estate firm by market share, recently opened an international real estate department led by King Liu, manager of luxury residences. It’s closed more than $24.5 billion in China and more than $20 billion in Shanghai.
Philip Spiegelman, ISG World principal, said in the press release that his company has been building relationships with Asian real estate agents for several years. ISG is currently marketing the Residences at W Fort Lauderdale, the Crimson, Echo Brickell, Muse in Sunny Isles and Echo Aventura.
“Now is the time we are finally able to make a big move,” Liu said in the release. “Our overseas department just had its inaugural grand opening in March, and I certainly believe that it will grow rapidly based on this new partnership with ISG World.”
ISG World isn’t alone in its efforts to bring Chinese investment to South Florida. Earlier this year, American Da Tang Realty launched a Miami real estate firm to focus on acquiring properties for Chinese buyers interested in Miami. And last week, a joint venture between China City Construction and American Da Tang Group paid $38.5 million for an oceanfront development site in Miami Beach.
Critics have said that South Florida is years away from seriously competing with other global destinations for Chinese buyers. In August, the Greater Miami Chamber of Commerce has organized an Asia Task Force to help market Miami to Chinese journalists, investors and developers. – Katherine Kallergis