Home > Overseas Investment News > Chinese investors buy three more Myrtle Beach courses, raising total to eight
Chinese investors buy three more Myrtle Beach courses, raising total to eight
Brief:The buyer of Yiqian Funding based on China has finalized its purchase of three golf courses in the Myrtle Beach area.hat increases the number of Grand Strand golf facilities now under Chinese ownership to eight, all bought in the last 15 months
A group of Chinese investors has finalized its purchase of three golf courses in the Myrtle Beach area of United States. That increases the number of Grand Strand golf facilities now under Chinese ownership to eight, all bought in the last 15 months – and, apparently, more Chinese purchases are in the works.
 
Burning Ridge Golf Club in Conway, Indian Wells Golf Course in Garden City Beach and Founders Club at Pawleys Island were sold by GGG of Myrtle Beach – which owns the Classic Golf Group management company – for about $11 million. The buyer is Yiqian Funding.
 
"They want to invest in Myrtle Beach," Classic Golf Group General Manager Rick Taylor said, "They want to be part of the community. They like Myrtle Beach and want to be part of it."
 
In addition, these new Chinese investors hope their purchases will help improve Chinese golf tourism to the Grand Strand.
 
"They feel they have an avenue in China to bring people here," Taylor said. "[Marketing cooperative Myrtle Beach] Golf Holiday has been doing a lot of work with China, trying to attract them to come to the Myrtle Beach area, and they believe that also. That's probably as big a strategy as they have."
 
These three courses were the last under GGG's ownership, and with their sale, both GGG and the Classic Golf Group are disbanding after a half-century in the golf business in Myrtle Beach. Ed Jerdon, at age 85 the last living GGG partner and a member of the Myrtle Beach Golf Hall of Fame, is retiring.
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