Peppers Carrington Resort Near Auckland
Tourists from China having been making an impact around the globe, and now the country’s real estate developers are following them, even as far as New Zealand.
Developer Shanghai CRED Real Estate announced on Friday that it is acquiring the 1,100 hectare Peppers Carrington golf resort near Auckland, and has plans to upgrade the property to cater to wealthy Chinese tourists.
CRED Real Estate purchased the resort for an undisclosed amount from the US investor Paul Kelly, and indicated that they would be spending millions of dollars to upgrade the golf course, vineyard and facilities at the resort on New Zealand’s Karikari Peninsula.
Bringing in Chinese Visitors and Investment
In a statement from the company, Shanghai CRED’s general manager, Guo Jie Gui said, “Affluent Chinese tourists tend to use Chinese tourist agencies, which in turn prefer to recommend Chinese-owned resorts internationally.”
More than 236,000 Chinese travelers visited New Zealand from October 1, 2012 to September 31, 2013 and contributed an estimated US$536 million. Since May of this year, New Zealand has relaxed the visa requirements for Chinese visitors with the aim of attracting 1 million mainlanders a year by 2018.
Investing Profit From China Projects Outside of China
Shanghai CRED, established in 1999, is owned by Guo Jie Gui (36.11%) and Pei Zhan (24.99%), and has developed dozens of real estate projects in China, including the high-end Bellewood Villas and CRED Forrest Villa in Shanghai.
CRED joins an increasing number of Chinese property developers who are spreading their investments into foreign markets as government controls cool down China’s real estate sector, and concerns grow regarding anti-corruption campaigns.
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