Bohong focus is on real estate in California
It started with two land purchases in Fremont, California, and this year will see real estate developer Bohong Inc putting the "for sale" sign for townhouse units on one of those properties.
In July 2013, Bohong bought land for the townhouse development. In May 2014, another land purchase close to a new Bay Area Rapid Transit station was converted to an investment-for-immigration, or EB-5 project.
On July 11, 2015, Bohong held a groundbreaking ceremony for its townhouse project, Generis Villas (GV). The company injected $10 million in the first phase of construction and said 12 units will be placed on sale in October with an average price of $1million each.
"We also bought another two lands nearby to construct hotels and office buildings," said Gao Xiang, president of Bohong. "Our GV project is located adjacent to the Silicon Valley, and residents would enjoy an easy access to highways."
In October 2015, Bohong bought a warehouse in Fremont to diversify its real estate holdings.
Bohong became a newcomer to the US market when it opened its Santa Clara, California, office in June 2013.
"Our business scope is comprehensive," said Gao. "We build residential and commercial properties, we design investment-for-immigration programs, and we run e-commerce websites and commercialize science and technology findings."
A wholly owned subsidiary of Hebei Bohong Real Estate Group, which was founded in 2003 and is well known for developing properties in China, Bohong adopted the corporate culture of its parent company and sets high standards for its US practices.
On Jan 8 at the Consumer Electronics Show (CES) in Las Vegas, Bohong signed an agreement with smart-tech makers ICON Home and Beijing Kunzhan Bohong Industrial Co Ltd to adopt ICON's smart technology for its housing projects in California and China.
Using touch screens to replace thermostats in traditional houses, ICON Home will install smart-home appliances to improve the living standard and satisfaction of buyers at the Genesis Villa townhouses and in China. The highly customized features of smart home integrate functionality with life style. It can save energy, increase privacy and security, and assist with everyday tasks such as making appointment and providing entertainment.
"We will develop 100 units of single-family houses, townhouses and condos in the Bay Area between 2017-2019," said Gao.
"The three-party partnership will continue with our joint development of smart building, smart community and smart school projects in China," she added.
Bohon started in Hebei province, one of China's leading agriculture and heavy industry centers.
Through its e-commerce platforms, Bohong has introduced Chinese customers to American apparel, wine, nutrition supplements, food and consumer electronics.
"We will launch our American website in June and push for a full operation in July," Gao said, bringing high-quality products to US customers will be the business model.
junechang@chinadailyusa.com
