Boyuan Construction Group starts $US7.97m residential project in Sanya
Boyuan Construction Group, Inc., (TSX-V: BOY, BOY.DB) a fast-growing construction company in China of commercial, residential and municipal infrastructure projects, announced today that it has initiated construction on a residential development located in Sanya, Hainan Province. The development totals 27,000 square meters and is valued at US$7.97 million.
"Demand for our construction and engineering services remains strong, especially in Hainan, where we have established ourselves as the leader due to our reputation for building first class projects on time and on budget," said Mr. Cai Liang Shou, Chairman of Boyuan Construction Group. "We are capitalizing on the significant opportunities that exist in this core market, whether they are to build tourism-related projects such as hotels and resorts or the region's growing demand for residential and infrastructure projects that will support the development of Hainan as a major international tourist destination by 2020."
Completion of the new project is expected to be in the fourth quarter of calendar 2012.
Begun in 2009, Hainan Island was targeted by China's International Tourist Destination Policy, which aimed to develop Hainan as a major international tourism destination by 2020. It has since become one of Boyuan's core markets as the demand for Boyuan's construction and engineering services in the region, specifically in the major cities of Sanya and Haikou, continues to grow and provide further residential and infrastructure opportunities.
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