U.S. expands oversight on property deals near military sites
The United States said Friday it is widening its ability to review foreign nationals’ real estate deals near military bases and installations — a move coming at a time of heightened concern over China-related land purchases.
In finalized rules unveiled Friday by the Treasury Department, a foreign investment watchdog will have greater powers to review deals near some 60 military installations.
Those military sites will be added to an existing list where nearby property transactions may be reviewed by the Committee on Foreign Investment in the United States (CFIUS).
The fresh rule takes effect in around a month.
