J. Milton & Associates seeks investment in China
Updated: 2011-09-07 13:27
By Chen Qide (chinadaily.com.cn)
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SHANGHAI - US J. Milton Associates plans to launch a heavily-funded property project in Langqi, Fujian province to develop American style residential communities.
"Negotiations are under way with local government officials and prospective joint venture partners," said Joseph Milton, president of J. Milton & Associates.
The project will include a theme park, a hotel, a shopping center, apartments and villas, Milton said. But he didn't give the details of how much will be spent and who they will cooperate with.
According to Jerry Kaufman, senior vice president of J. Milton & Associates, the project is expected to be launched next year and take six years to complete.
Milton arrived in Beijing on Aug 27, 2011 to start his two-week tour of the Chinese cities including Guangzhou in Guangdong province, Shanghai and Shenyang in Liaoning province.
"We are exploring opportunities that have presented themselves to the company to develop and build the most contemporary and technologically advanced residential real estate communities for the Chinese market," Milton said.
He had a meeting with the US Embassy in Beijing to inform it of the company's plans to seek business opportunities within China and to further explain the corporate goals of inviting both individuals and corporations to visit Miami, Florida to determine their interest in investment in Florida.
"China provides great potential for our business expansion and will become the most important market to us,'' he said.
Approximately two years ago, the company sent Kaufman on a tour of the most prominent cities within China including Beijing, Guangzhou and Shanghai. His report on the social and business traditions in China helped the company better understand how to engage in conversation and negotiations within the various provinces, cities and villages, Milton said.
"We want to learn as much about the Chinese people in a bid to familiarize ourselves with the various business methods within all aspects of the private business community," he said.
"Special attention will be paid to understanding potential opportunities that might be available to running joint ventures or cooperating with prestigious and recognizable Chinese development partners," Milton said.