OCT Group to invest RMB 30 billion in Sanya's tourism and culture projects
Overseas Chinese Town Holdings Company (OCT Group) has recently signed a cooperation agreement with the Sanya government to invest 30 to 50 billion yuan to participate fully in the planning, construction, and operation of Sanya’s tourism and culture projects and related projects. Cooperation between the two sides is expected to push forward the development of Sanya Tourism 3.0.
The projects will include
-Upgrade of Dong’An Wetland Park and its surrounding area;
-Yazhou Central Fishing Port;
-Renovation and upgrade of the Tianya Haijiao Scenic Area, the Luhuitou Scenic Area, and Dongtian Park;
-Comprehensive development of West Island and East Island;
-Tourism infrastructure such as a water bus, a round-the-island mini train, and wharf construction;
-Large ecological agricultural tourism sightseeing projects;
-The largest water park in China;
-Happy Valley and Happy Harbour projects.
About OCT Group
As one of the large-scale central enterprises subordinate to SASAC, the Shenzhen-based OCT Group has become a large-scale state-owned enterprise engaged in cross-sector and cross-industry operation. Since starting from a stretch of mud flats beside the Shenzhen bay in 1985, the group has built three leading major businesses in China, namely tourism and related cultural industry operations, real estate and hotel development and operation, and manufacture of electronic and set package products. In November 2009, OCT’s major businesses were all publicly listed. Some well-known brands include Konka, Splendid China, Window of the World, Happy Valley Chain, Portofino, Interlaken Town, OCT Grand Hotel, Venice Hotel, and City Inn.