Members of America's Rockefeller family, one of the world's wealthiest, are renewing their business interests in China by looking for golf and resort projects that are likely to benefit from the prestige of their illustrious group.
The SixRock group, founded by sixth-generation family members Christian Rockefeller and Sebastian Gumina, along with Steven C. Rockefeller Jr, is banking on the prestigious family name to boost real estate projects across the globe that might find value in the brand.
SixRock will profit from licensing deals for the use of the brand and for providing marketing and design support.
While the branding will mainly use SixRock, the Rockefeller name "might be attached" for certain very exclusive projects, the company said.
SixRock is a successor to the Steven Rockefeller Jr Golf Development company (SRGD) which had focused on high-end golf and residential projects in China. Rockefeller Jr is the grandson of former US vice-president Nelson Rockefeller.
Founded in 2011, SRGD had headquarters in Philadelphia and Beijing, and had two projects under development which are currently on hold. The group refused to elaborate about the paused projects.
The Rockefellers were one of the first American families to invest in China. In 1914, the Rockefeller Foundation bought the then Union Medical School, based in Beijing, and renamed it Peking Union Medical College. In 1973, their Chase Bank, now known as JPMorgan Chase, was the first US bank to have a correspondent relationship with the Bank of China.
SixRock's renewed interest in China and other international property markets comes as the global economy is mired in its worst downturn since the Great Depression almost a century ago. SixRock has offices in Beijing, New York, and Stockholm.
The company has appointed Brands Lab International (BLI) to be its intermediary with developers from conception to construction to ensure they will be consistent to the brand. BLI is now negotiating with developers in the Caribbean, Miami, and the United Arab Emirates for SixRock's first project.
The group said that with economic growth in Asia likely to continue, the region is central to its business plans.
In Vietnam, it is looking to partner with a local developer for "high-end luxury development projects".
SixRock will not be funding any of the projects, but will lend the brand to the development.
"But it is more than just lending value and prestige to the project. Developers will have access to the brand cooperation partners from SixRock and BLI and will get advice and consultancy on the design and architecture," said Florian Haffa, BLI founder and CEO.
Marketing support will also be part of the package.
SixRock's licensing deals will be negotiated by BLI and will include a licence fee for the exclusivity for a certain project or territory. Royalties will also be derived from sales or rental income.
This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2020 South China Morning Post Publishers Ltd. All rights reserved.
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