Chinese group buys New Zealand resort

 

For months, Chinese investors have been buying golf properties on coastal Queensland, Australia. Now they’ve made what the Malaysian Insider calls “the first significant Chinese investment in New Zealand’s tourism sector.”

A Shanghai-based group, Shanghai CRED Real Estate, has purchased the 2,790-acre Peppers Carrington resort on the North Island’s Karikari Peninsula. The resort’s amenities include villas, a lodge, vineyards and an 18-hole golf course that was, in 2003, redesigned by the late Matt Dye. (He was one of Pete Dye’s nephews.)

Shanghai CRED plans to market Peppers Carrington to Chinese vacationers looking to lounge on beaches they’ve not yet visited. “Affluent Chinese tourists tend to use Chinese tourist agencies, which in turn prefer to recommend Chinese-owned resorts internationally,” said Guo Gui, Shanghai CRED's general manager.

Shanghai CRED describes itself as “China’s largest real estate group.” It bought Peppers Carrington from Paul Kelly, a U.S. investment banker.

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