The New Coney Island - Brooklyn's Times Square by the Sea

Friday, October 11, 2013

Bloomberg News - China Developer in $5 Billion Project at Brooklyn Nets Arena

Excerpt -

Greenland Holding Group Co., a developer building one of China’s tallest towers, is investing in a New York property project valued at more than $5 billion, the latest Chinese real estate company to venture overseas. 

Greenland signed a memorandum of understanding on Oct. 2 with Forest City Ratner Cos. LLC to develop the Atlantic Yards Apartment Project in Brooklyn, the Chinese company said in an e-mailed statement today. Greenland will take a 70 percent stake in the development, anchored by the Barclays Center, home of the National Basketball Association’s Brooklyn Nets. It is the biggest deal of its kind by a Chinese developer in the U.S., Greenland said.

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