A new real estate firm arrives in Miami with the goal of helping Chinese investors acquire property in South Florida. American Da Tang Realty, the latest project of Chinese entrepreneur Dr. Shanjie Li in Miami, has just opened its office in the city, according to The Real Deal.
Li is the firm’s hook with the American Da Tang Group, a high-end services firm servicing the Chinese elite with an interest in landing in the United States.
The company will focus on acquiring properties for Chinese buyers interested in Miami, though it won’t exclude clients of other nationalities, Li partner Seth Gordon told The Real Deal. News about Miami is starting to reach China and the elite are drawn to its clean air, sea and glamour, Gordon adds.
A report presented by Miami’s Downtown Development Authority cited the potential of the Chinese market for the acquisition of condominium apartments. The study (First Quarter Greater Downtown Miami Market Residential Real Estate Market Study), led by Integra Realty Resources, shows that the greatest interest comes from China – one of the few economies that experiences gains against the dollar.
In December 2014, a partner in the American Da Tang Group won the exclusive development in Brickell for $74.8 million in cash. While there are no plans for the 2.39-acre parcel at 1430 South Miami Avenue, Gordon said Da Tang Realty will manage contracts with developers when they become available.
