Missions Hills China, Lan Kwai Fong to launch $US3.7b golf facility in Hainan
The owner of the world's biggest golf course, Mission Hills China is joining hands with Lan Kwai Fong Holdings to launch a US$3.7 billion golf and retail facility in Hainan.
Located north of the island, the resort at Haikou is expected to open by the end of 2013.
It will feature 10 courses, roughly the size of the Mission Hills resort in Shenzhen.
Lan Kwai Fong Holdings is the developer behind Hong Kong's best known stretch of bars.
And the two partners are tapping into growth opportunities in Hainan.
Mr Allan Zeman, chairman of Lan Kwai Fong Group, said: "Hainan last year had 26 million visitors. Going forward this year, they expect around 30 million visitors, similar to the figures that Hong Kong has in tourism… So I think if you're ever going to invest, especially being close to China, Hainan is the right place."
Hainan Island is being touted by the local government as the 'Hawaii of China', with tax-free shopping, beaches and hot springs.
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