One of China's largest residential real estate brokerages has opened an office in a Chicago suburb to work with Chinese investors who want to acquire property in the area.5i5j Realty, a division of Beijing-based 5i5j Group, will be in Buffalo Grove, about 30 miles (48 kilometers) northwest of Chicago, and by the end of this month the company expects to open an office in downtown Chicago, employing 10 people at both locations.
"We will have both Chinese and American agents on our staff," said Ellen Phillips, an American who is vice-president and the managing broker for the Buffalo Grove office.
China's largest residential real estate brokerage has selected the Chicago area for its first American office in a bid to establish a direct sales channel for Chinese investors eyeing US property.5i5j Realty, a division of Beijing-based 5i5j Group, has opened an office in the Chicago suburb of Buffalo Grove, Illinois.
Wen Shishan, 57, wandered in a bamboo grove, holding a machete in search of ideal materials to make oil-paper umbrellas, an old craft dating back to over a millennium ago.
Grove, which claims to be the first carmaker in the world to focus on hydrogen vehicles, is presenting three models at the Shanghai auto show, with volume production expected to start in 2020.
Grove said its dealerships will open in China's tier-one cities in 2020, tier-two cities in 2021 and then throughout other big cities from 2022.