CRE development may spur on visa acquisitions

More investors may be entering the U.S. market to create developments.

A program to help foreign nationals invest in U.S. is picking up steam, boosting hopes that foreign investors could help improve the job situation and the commercial real estate market, according to CoStar.

The Immigrant Investor Program – also known as EB-5 – is an opportunity for foreign investors to get involved in the U.S. market if they can help keep or grow at least 10 jobs in the country. The program is conducted by the U.S. Citizenship and Immigration Services for the Department of Homeland Security, the report noted. It has already created 65,000 job opportunities and $3.1 billion in the economy, which may go a long way in helping improve the situation for commercial property management companies.

More than 2,300 visas have been handed out from January to March, the report noted.

"At this pace, the 2012 program will come close to using its 10,000 annual visa allocations for the first time since its inception in 1992," Ronald Fieldstone, a partner with Arnstein & Lehr, told the news source. "This would create an estimated 40,000 new jobs for U.S. workers in fiscal 2012. Compare this to fiscal 2011, in which the USCIS created approximately 25,000 new jobs."

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