U.S. Expands Oversight on Foreign Land Deals Near Military Bases

The Biden administration finalizes a rule to enhance national security by scrutinizing foreign real estate purchases near sensitive sites.

The new rule adds nearly 60 facilities across 30 states to the review list, expanding oversight to about 227 military installations.
Treasury Secretary Janet Yellen emphasized the rule's role in preventing intelligence threats from foreign entities.
CFIUS, chaired by the Treasury Department, will have increased authority to review real estate transactions near military bases.
The rule, effective in December, does not retroactively apply to the proposed Gotion battery plant in Michigan, despite security concerns.
Critics argue the rule still allows potential loopholes for foreign adversaries to acquire U.S. properties without mandatory vetting.