Chinese In Myrtle Beach: 13 Purchases Worth $47 Million

The Charlotte Observer's Alan Blondin and Steve Jones report on the continued interest in Myrtle Beach golf properties by investors from China (thanks to John Strege for the head's up).

They report that investors in the last 20 months "have already spent approximately $47 million acquiring 13 Grand Strand golf courses. More purchases are expected.

“China has too much money right now. [The government] is encouraging companies to invest overseas,” said China native Xian “Nick” Dou, a New York City immigration attorney and partner in Yiqian Funding, the Chinese investment company that purchased Classic Golf Group’s courses and five more since then. “... They have a lot of money, and where to go? Go overseas.”