China Oceanwide Holdings

China Oceanwide Holdings Ltd
Private
Industry hotel, financial services, real estate
Founded 2000
Headquarters China
Key people
 Lu Zhiqiang, chairman
Website

China Oceanwide Holdings Ltd. (Chinese: 中国泛海) is a Chinese investment holding company. It was incorporated in 1990. The chairman, Lu Zhiqiang, announced major global expansions, "going global" for Chinese conglomerates. They have acquired significant holdings in the United States.

The LA Times reported; "Oceanwide has built major residential and commercial developments in cities including Beijing, Shanghai and Wuhan. The founder and chairman of Oceanwide, Lu Zhiqiang, 62, was ranked No. 32 on Forbes' 2013 China Rich List, with an estimated fortune of $3.2 billion. In addition to real estate, he has interests in China Minsheng Bank and computer maker Lenovo."

The 2014 acquisition at 50 First St in the Mission district of San Francisco was for $296 million from TMG Partners. Two towers of residential, hotel and retail are planned. The acquisition was through their U.S. subsidiary, Tohigh Property Investment.[1][2][3]

References

  1. ↑ "Chinese developers muscling in to Bay Area housing market".
  2. ↑ "No hard landing for China's economy: CPPCC National Committee member".
  3. ↑ "Chinese developer Oceanwide buying property in downtown L.A.".
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