By Corina Vanek | Phoenix Business Journal
A massive land purchase of nearly 25,000 acres by Microsoft founder Bill Gates last year has helped put the West Valley on the map for foreign investment.
“In the last five to six months we have been getting a lot of interest from foreign investors,” said Anita Verma-Lallian, marketing director for Vermaland LLC, a family-owned real estate business. “Phoenix is getting itself on the global platform.”
Vermaland has 640 acres of land in escrow with a group of foreign investors, most of whom are from China. Verma-Lallian said the investors are most likely looking to hold the land as an investment and wait for values to increase before selling to groups looking to develop in the area.
