Deutsche Bank to invest USD 600 million on Sanya Wo Paradise project
An agreement of financial cooperation between Deutsche Bank and Sanya Wo Paradise project was signed last week, with an aim of building Sanya in to an entertainment paradise.
Among the domestic tourist cities, Sanya has a good tourism environment as the city is rated as the most livable city in the world. Deutsche Bank plans to take advantage of the city’s fertile ground to set up a tourism related business. The total investment on the project will reach to 600 million US dollars.
Located at Luhuitou Square, the Wo Paradise project is expected to become a super underground tourism commercial district consisting of 5 super playgrounds, 7 interior amusement parks, 9 global performance shows, global cuisine streets and shopping stores with world luxury brands.
Speaking of the tourism industry in China, Deutsche Bank was impressed by Hainan’s rapid growth in tourism. In 2011, the number of tourist arrivals in Hainan reached 30 million, with the tourism revenue generated to 378 billion yuan.
After the work is done, the Wo Paradise project will become a new tourism landmark on the island to attract visitors of all ages.