Boyuan Construction Group, Inc., a fast-growing construction company in China of commercial, residential and municipal infrastructure projects, announced yesterday that it has initiated construction on a five star luxury hotel located in Lingshiu, a city on Hainan Island, one of Boyuan's core markets. The hotel consists of 45,000 square meters of construction area covering a total of three floors. The project is valued at US$10.9 million.
 
"The initiation of construction of this first class hotel complex in one of our core markets is an example of how, regardless of tighter liquidity for property developers and the restrictive measures introduced by the central government, we are still actively pursuing and evaluating high value opportunities," said Mr. Cai Liang Shou, Chairman of Boyuan Construction Group.  "We believe current market conditions will continue in the short term and therefore we will continue to be very selective in choosing which new construction projects we accept in order to minimize risk and to preserve capital."
 
Completion of Boyuan's new project is expected in the first quarter of calendar 2014.
 
Launched in 2009, China's International Tourist Destination Policy is aimed at fostering Hainan Island's economic growth and development. As part of the goal to turn Hainan Island into a major international tourism destination, a tax-free shopping plan for foreign travelers was implemented effective January 1, 2011.
 
About Boyuan Construction Group, Inc.
Based in Jiaxing City, China, Boyuan Construction Group, Inc. is in the business of commercial building and residential construction, municipal infrastructure and engineering projects.  In its last three fiscal years ending June 30, 2012, Boyuan completed more than 50 projects for a number of private and public sector clients.  Boyuan's current project backlog includes residential, commercial, industrial and mixed-use developments.  From its operating bases in Zhejiang Province and in Hainan Province, Boyuan focuses on construction projects in China's fast-growing regions of the Yangtze River Delta, Hainan Province and Shandong Province. For more information visit www.boyuangroup.com.
 
SOURCE: equities.com
 
Editorial Message
This site contains materials from other clearly stated media sources for the purpose of discussion stimulation and content enrichment among our members only.


whatsonsanya.com does not necessarily endorse their views or the accuracy of their content. For copyright infringement issues please contact editor@whatsonsanya.com