A Couple of Good Reasons to Buy Land In Hawaii
Hawaii Investment Journal
The China Oceanwide Holdings acquired nearly 23 acres for $200 million planning to spend a total of $580 million to build three luxury branded hotels and one residential condominium. The Holdings also signed an agreement to turn 642 acres of land into a brand new resort, with an investment of over 2 billion dollars.
Hong Kong’s Qinghua International Holdings bought $21 million worth of properties near a shopping mall, in addition to a business tower purchased for $12 million. Similarly, the Hawaii-based real estate development firm ProsPac Holdings Group LLC (which is primarily supported by Chinese investors) recently made new purchases in downtown for almost $10M per-acre, and expected to develop a major mixed-use project that includes a variety of residential and retail spaces.
Investments of great size are not limited to land-based purchases in Hawaii. Dalian Wanda Group became the new owner of the Ironman race for $650 million. The biggest race event in the World, Ironman, attracts more than 2000 athletes worldwide and takes place in the Big Island.
Its vast fertile lands surrounded by stunning views and serene atmosphere make the Big Island a preferred real estate investment location.
Today, world’s leading entrepreneurs buy land and real estate from various regions of Hawaii and the Big Island in particular. Among the billionaires who own property here, are successful businessmen like Michael Dell, Paul Allen, and Charles Schwab.
- Howard Schultz, CEO of Starbucks, bought a $25M house on the Big Island of Hawaii.
- Michael Dell, Dell Computers, bought a $68M house on the Big Island.
- Larry Ellison, the founder of Oracle, bought the Lanai Island for 0.6 billion dollars.
- Facebook’s Mark Zuckerberg spent over $100M on Hawaii beachfront land, getting two properties (700-acre) all before even building a house.