Wanxiang Group Corp. Makes Huge Investments in the U.S. Real Estate
Published By : 15 Apr 2015 | Published By : QYRESEARCH
China's largest auto-parts manufacturer, Wanxiang Group Corp. stated that they may have tagged as the biggest Chinese corporate investor in the U.S. real estate sector, assuring that economic recovery will be generating better returns.
The President of Wanxiang's, U.S. unit having its headquarters in Elgin., Ni Pin said that the company has made an investment in more than 60 projects across the nation since 2010 and is also planning to buy some more. He further informed that the investments of Wanxiang include medical buildings, student housing, office towers, shopping centers, warehouses, and homes.
After a Committee of 100 conferences in New York, on 10th of April, in an interview Ni Pin stated that, in the last four to five they have had quite less automobile deals in the United States. He further declined to present the exact number; however he said that the returns on real estate investments have been very much high.
As per the Real Capital Analytics Inc, the Chinese developers in the last few years have increased their investments across the globe as the market at home has slowed down. Chinese companies invested around US$5.95 billion in the commercial properties in the U.S. these figures were almost double the amount that was in 2013, placing China in the second position after Canada in terms of U.S. commercial real estate investments.
According to Real Capital Analytics Inc, Wanxiang Group Corp. was the second largest Chinese investor as per the number of properties they hold in the U.S., which tracks transactions of more than US$2.5 million. Wanxiang is based in the eastern Chinese city of Hangzhou which is widely known for its acquisition of Fisker Automotive Holdings Inc., the defunct U.S. manufacturer of luxury plug-in cars. Wanxiang's clients comprise Chrysler and Mazda.