Date
20 August 2018

Kerzner, Fosun plan US$1.5 bln resort in Hainan, WSJ says

Hotel operator Kerzner International Holdings Ltd., known for giant developments such as Sun City in South Africa and Atlantis in the Bahamas, was set to announce on Thursday that it has reached an agreement with Chinese conglomerate Fosun International Ltd. (00656.HK) to build a US$1.5 billion resort on Hainan Island in the South China Sea, the Wall Street Journal reported, citing statements from both companies. The 153-acre property in the city of Sanya will include 1,300 hotel rooms, 18 bars and restaurants, a water park, dolphin shows and other marine life, the report said. Groundbreaking is to start this year, and the resort is expected to be completed in 2016, it added.

– Contact HKEJ at [email protected]

RA/CG

 

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