TRD’s Amir Korangy on Chinese investment and development in the US: VIDEO

Miami /
Jan.January 15, 2016 04:30 PM

Chinese developers with U.S. projects have a built-in network of buyers back home, and are increasingly going directly to that buyer pool when marketing their U.S. projects, The Real Deal’s publisher Amir Korangy said during an appearance on CCTV this week.

These developers, including China’s biggest players such as Dalian Wanda Group, are using the U.S. as a way to diversify and get their capital out of China, said Korangy, speaking on the largest state television broadcaster in mainland China.

“They’d rather have U.S. currency and U.S. assets than Chinese currency and Chinese assets,” he said.

And in the face of economic turmoil back home, regular Chinese citizens could very well increase their investments in the U.S., he added, especially given concern that the yuan could further weaken. Chinese buyers are now the largest contingent of foreign property buyers in the U.S. All together, they spent $28.6 billion in the country in the year ending in March, according to the National Association of Realtors.


Related Articles

arrow_forward_ios
Damac Properties founder Hussain Sajwani and the Surfside collapse site (Damac, Getty)
Dubai developer revealed as $120M bidder for Surfside collapse site
Dubai developer revealed as $120M bidder for Surfside collapse site
Surfside site’s stalking horse bidder signed contract, auction slated for February as claims could reach $1B
Surfside site’s stalking horse bidder signed contract, auction slated for February as claims could reach $1B
Surfside site’s stalking horse bidder signed contract, auction slated for February as claims could reach $1B
Alex Rodriguez and Constantine Scurtis at far right (Getty)
A-Rod gets 13 lawsuits dismissed that were filed by ex-brother-in-law over real estate empire
A-Rod gets 13 lawsuits dismissed that were filed by ex-brother-in-law over real estate empire
Estate Companies pays $15M for downtown Hollywood Opportunity Zone site
Estate Companies pays $15M for downtown Hollywood Opportunity Zone site
Estate Companies pays $15M for downtown Hollywood Opportunity Zone site
Harvey Hernandez and a rendering of his Brickell project
Harvey Hernandez plans three-tower project on riverfront Brickell site
Harvey Hernandez plans three-tower project on riverfront Brickell site
Infinity project (Kobi Karp)
GPI Real Estate wins $6M settlement over failed Sunny Isles Beach project
GPI Real Estate wins $6M settlement over failed Sunny Isles Beach project
Judge Michael Hanzman and the site at 8777 Collins Avenue (Miami-Dade Circuit Court, Getty)
Judge overseeing Surfside collapse litigation chastises town over proposed downzoning
Judge overseeing Surfside collapse litigation chastises town over proposed downzoning
Sweetwater affordable senior rental project scores $33M construction loan
Sweetwater affordable senior rental project scores $33M construction loan
Sweetwater affordable senior rental project scores $33M construction loan
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...