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Wealthy Chinese Businessmen Eyes Miami Real Estate

2 September 2015

It has been reported that there are about 22 wealthy Chinese art collectors who has connections

with real estate about visiting Miami about business prospects, they have been reported to be

checking out the business environment and investment opportunities in the said city. According

to Peng Lu who happens to be the associate provost of international programs at Florida

International University, the businessmen wants to understand how business is done in the

United States.

Mr. Lu added that Miami is the bet place for business as he informed the Miami Chamber of

Commerce earlier last week. Mr. Lu told a group of local executives during the first Asia-Miami

Task Force meeting Friday that among the delegates are to be a Chinese developer and an

individual referred to as the king of frozen food.

“From the chamber’s perspective, if there’s going to be significant Chinese-Asian presence in

Miami we have to prepare for it,” Seth Gordon, chair of the chamber’s newest committee and

local public relations specialist said. He also suggested involving Mayor Carlos Gimenez with the

trade mission. “From the chamber’s perspective, if there’s going to be significant Chinese-Asian

presence in Miami we have to prepare for it,” he added.

The Asia-Miami Task Force plans to take an internal approach, while the Americas Linkage

committee focuses on trade missions abroad and outbound recruitment of investors, the Asia-

Miami Task Force plans to take an internal approach. “This is going to be more inbound. What

can we do? What should we do to make Miami more Asia-savvy?” Mr. Gordon asked.

Because it is known that Miami has lacked of Chinatowns, Mr. Gordon said that he wants “New,

modern version of a Chinatown, in representation of modern-day China.” The fact that Miami

lacks a central Chinese community is, in fact, what attracts many investors to the region, Mr. Lu

said.

Mr. Lu also states that “the reason Miami can compete with New York is because the Chinese

come here, [and] easily put themselves in mainstream US society,” and added that “Rather than

enclose themselves in a separate community within a community, he said, Chinese

businessmen, investors, families, etc., want to “emerge themselves into US society, not steer

themselves away.”

Airline connection, an increasingly popular topic within efforts to connect Asia’s and Miami’s

business worlds, was brought up when discussing possible ideas. But educating foreign investors

on condominium ownership regulations and such other topics as EB-5 visas, which allow major

investors to obtain green card status in the US, allowing them and their families to live in the US

permanently.

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