Boyuan begins three new projects on Hainan Island
Boyuan Construction Group, Inc., a fast-growing construction company in China of commercial, residential and municipal infrastructure projects, announced today that it has initiated construction on three new projects in the Hainan Island region, one of Boyuan's core markets.
"Launching these new projects once again demonstrates our commitment to actively pursue high value opportunities in spite of the tight liquidity for property developers and the restrictive central government policies that characterize the current market," said Mr. Cai Liang Shou, Chairman of Boyuan Construction Group. "However, we will continue to be very selective in choosing which new construction projects we accept in order to minimize risk and to preserve capital."
Two of the projects are located in Sanya city, a popular tourist destination on the south coast of Hainan Island:
•A multi-family residential complex valued at US$15.6 million with a construction area of 55,000 square meters. Completion of this project is expected in the fourth quarter of 2014.
•A water theme park valued at US$12.0 million with a construction area of 130,000 square meters. Completion of this project is expected in the fourth quarter of 2014.
The other project is located in Qiongzhong, an autonomous county located in the central part of Hainan Island:
•A multi-family residential complex valued at US$7.9 million with a construction area of 33,000 square meters. Completion of this project is expected in the second quarter of 2014.
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