LOS ANGELES, Aug. 25, 2014 /PRNewswire/ -- Landsea Group Co. Ltd., an internationally recognized homebuilder, has announced it will invest more than $1 billion in the U.S. housing market over the next several years beginning with residential developments in three of the country's largest housing markets--New York, Los Angeles and San Francisco.
To highlight the company's entry into the U.S., Landsea Founder and Chairman Tian Ming is touring the company's building sites and will conclude his visit with a formal celebration on Sept. 4 at the historic Biltmore Hotel in Los Angeles, near the company's U.S. headquarters.
"This visit marks the advent of Landsea as an American homebuilder," said Mr. Tian. "We have already established our presence in Asia and Europe, but there is no better housing market than the United States, where home ownership will always be a part of the American Dream and a cornerstone of economic prosperity."
The chairman's U.S. tour begins August 25 in Weehawken, N.J., where Landsea plans to develop a mid-rise 200-unit luxury condominium complex overlooking the New York City skyline. On September 1 and 2, Mr. Tian will be in Dublin, Calif., about 35 miles east of San Francisco, to see earthmovers preparing the ground for a 109-unit town home development to be known as Kingswood by Landsea Homes. That project will open for sale in early 2015. He will then head to Southern California on September 3 and 4 to visit Simi Valley, north of Los Angeles, where the company will introduce three new developments--two single family home projects and an active adult building, which are currently under construction.
Chairman Tian will be accompanied by John Ho, managing director of Landsea Holdings Corp., the privately held subsidiary created to oversee and manage the U.S. projects. To ensure the company's success, Mr. Ho has personally selected a senior management team that is well known and highly respected throughout the local home building industry.
Landsea Holdings Corp. will be in charge of the design and development of the homes, which will be built by local companies using domestic materials. It will cater to American tastes, comfort and satisfaction. Landsea earned a 95% satisfaction rating in a recent Gallup survey of its Chinese homebuyers.
Landsea Chairman Tian said the three developments is the first phase of its more than $1 billion in home construction by Landsea in America. In addition to the New York, San Francisco and Los Angeles areas, the company also plans projects for Boston and Washington, D.C.
Landsea, which was founded in 2001, quickly became one of China's premiere "green" homebuilders, constructing residences with systems for rainwater retention and passive geothermal heating and cooling. The company is also a founding member of China Green Building Council, and a member of the German Sustainable Building Council and the US Green Building Council.
Landsea's U.S. debut represents another milestone in the rapid growth of Landsea Group, which now has developments and research facilities in more than 40 locations throughout China and Europe. In 2001, the company started with an initial investment of $1.5 million, and now posts revenues close to $2 billion annually.
About Landsea Group Co. Ltd.
Landsea was founded in December 2001 by Tian Ming in Nanjing, China. It has won several Chinese and international awards for its sustainable construction designs and holds more than 130 patents in building technology. Three of its "green" developments in China have been declared demonstration projects by the government there.
As a vertically integrated company, Landsea emphasizes quality by controlling all aspects of the development process, from architectural drawings to after-sale service. It has 40 housing developments in China and an R&D center in Germany, where it is also constructing "green" senior housing. The company's revenues in 2013 were $1.85 billion.
SOURCE Landsea Group Co. Ltd.