Chinese Interests Buying Up Chunks of Grand Strand


While its government has recently shut down dozens of courses across China, calling golf a "capitalist" game and a "sport for millionaires," an investment group from the world's most populated country has been purchasing golf courses in the Myrtle Beach area of South Carolina.

In April, Founders Group International acquired two more golf courses, including Tradition Golf Club in Pawleys Island and 27-hole Wild Wing Plantation near the Myrtle Beach-Conway border on U.S. 501 North. That brings the group's total on the Grand Strand to 10.

In addition to Wild Wing and Tradition, Founders Group International now owns and operates World Tour, TPC Myrtle Beach, Founders Club at Pawleys Island, Indian Wells Golf Club, Burning Ridge Golf Club, River Hills Golf & Country Club, Aberdeen Country Club and Colonial Charters Golf Club.

Chinese investors have purchased 15 Strand courses since June 2013. Sea Trail Resort - which includes three courses - as well as Crown Park Golf Club and Black Bear Golf Club are owned by different Chinese groups or individuals.

The buyer of Wild Wing and Tradition is Yiqian Funding, which is represented by New York City immigration attorney Nick Dou and Daniel Liu of the parent company in China.

According to a report by Alan Blondin in the Myrtle Beach Sun News, the Wild Wing purchase included 241 undeveloped acres and an additional 198 lots, and sold for $19 million. Tradition Club price tag was $3 million, according to Georgetown County records.

Dou told Blondin the group wasn't sure what it would do with the additional Wild Wing land, although development of some sort is likely. "If we build a house we will sell to people from China, maybe for the local people," Dou said. "If we sell to people from China, they will buy a house, pay taxes, shop here, it will be good for the local economy.

"We will see. We have a little time to think about this right now," Dou told Blondin. "We probably will develop it but not now. Later."

So far, no staff or operational changes are planned for Wild Wing and Tradition. Other recent Founders Group acquisitions haven't experienced any such changes.

Of the new owner, Tradition Club general manager Clay DuBose told Blondin, "Myself and the staff here, and our membership, are very excited about the new ownership. We are very welcoming to this new money in Myrtle Beach. I really think Myrtle Beach needs this. I think it has been needed for a long time.

"They said they were looking to bring Chinese people over here for weeks at a time for golf packages and they're here to stay."

For Blondin’s full report, visit http://www.myrtlebeachonline.com/news/business/article19104687.html.