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Chinese Construction Companies Shifting Focus to the US Market

All News
With Chinas domestic construction industry not doing so well, many Chinese construction companies are showing a deep inclination rewards entering the US market at all possible levels. Be it a huge joint venture or a small individual villa, Chinese construction firms are soon to be found everywhere in the US market.

New York City, September 21, 2014

By Indranil Bhattacharjee
September 21, 2014

American business media recently reported a new construction deal, highlighting the deal as the beginning of a new wave of Chinese companies willing to get attached to the US construction market.  According to the latest report, China’s noted development company Landsea has invested $1 billion for three development projects coming up in Weehawken, New Jersey, and California.

Landsea’s upcoming development project in New Jersey, however, will be built by Lennar Homes, one of the largest residential construction companions in America. US based manpower and materials will be used for the execution of this project. Talking about this project, Landsea US division’s Managing Director John Ho said, “Our U.S. operation will function in every aspect like a U.S. home builder. Our people are all local. The only thing that makes us different is that our equity and background is Chinese.”  

 Starryland, the American subsidiary of another Chinese development company, has recently closed a large deal for thousand plus homes to be constructed in the West Coast.

Rather than just a purchase of existing stock, the present scenario represents a paradigm change in property building in America. The overall condition is expected to get further influenced by the fact that the number of empty homes in America has been diminishing by the day. Moreover, the sluggish condition of the Chinese construction market is another key factor here. In the year 2013, 12,000 homes were built in China by Landsea.  Unfortunately, most of these homes have struggled to find any buyers.