Swire Properties has plans to partner with state-owned China Tourism Group Duty Free Corporation to develop a resort-style retail complex in Hainan province.
Located in the heart of Haitang Bay National Coastal Recreation Park, this will be the company’s eighth large-scale commercial development in the Chinese Mainland. Swire Properties and CTG Duty Free will each hold a 50 percent interest in the project.
A joint venture company has been established to develop the site as a premium, resort-style, retail-led development, including underground parking and other ancillary facilities. The investment was announced today after the joint venture company successfully acquired (via government land listing-for-sale) a site for commercial development in the Haitang District of Sanya, at a total price of RMB1.308 billion ($tk million). The project is expected to be completed in phases from 2024.
“This will be our first ever resort-style retail complex. The design will
