The volume of Sanya’s commercial residential transactions in the first five months of this year stood at 6,587 units, with total sales reaching 14.58 billion, according to the reports.

Since gaining popularity as a tourist destination, Sanya has seen a boom in property development projects.

At present, there are about 140 real estate companies that have settled down in Sanya, including Luneng Group, Wanda Group, and Baoli Group, among which 90% are from outside the island.

Early this February, Greenland Group, a Shanghai-based property developer, won the bid for a piece of land that will include residences and commercial units near Jiyang Town.

The local government is actively promoting the optimization of the internal structure of Sanya’s real estate industry, and will focus on the development of business real estate including resort hotels, theme hotels, leisure vacation resorts, business office buildings, cultural educational buildings and commercial buildings.

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