ebulletin

November 19, 2022
Sanya retail project to be developed by Swire Properties and CDFID
Swire Properties recently announced that it will partner with CDF Investment & Development Co Ltd (CDFID), a subsidiary of China Tourism Group Duty Free Corporation Ltd (CTG Duty Free), to develop a retail landmark in Sanya, Hainan Province. Located in the heart of Haitang Bay National Coastal Recreation Park. Swire Properties and CTG Duty Free will each hold a 50% interest in the project.
A joint venture company has been established to develop the site as a premium, resort-style, retail-led development, including underground parking and other ancillary facilities. The investment was announced in October after the joint venture company successfully acquired (via government land listing-for-sale) a site for commercial development in the Haitang District of Sanya, at a total price of RMB1.308 billion.
Located in Haitang District, the new development will be Phase III of the Sanya International Duty-Free Complex, covering a total site area of approximately 200,000 sq m. The site enjoys excellent road, rail and air connectivity to Sanya Phoenix International Airport and Sanya Railway Station. The project is expected to be completed in phases from 2024. The new development will also be connected by a network of bridges to the Sanya International Duty Free Complex.