LOS ANGELES—The prospering US housing market has attracted Chinese investor Landsea Group. In an earlier story, GlobeSt.com reported that the homebuilder is making its foray into the US with a $1 billion investment, which will be spent on development projects over the next several years. The firm plans to focus on coastal markets, with three projects already underway in San Francisco, the New York metropolitan area and Los Angeles.

“One of the reasons we selected the US housing market is because in China, the housing market growth is slow and it is a very highly competitive market,” Tian Ming, founder and chairman of the Landsea Group, tells GlobeSt.com. “We saw an opportunity to invest in a healthy and expanding housing market where we see a lot of growth potential, and we wanted to enter the US market and establish ourselves.”

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