On the afternoon of January 27th, Haikou City sold three state-owned construction land use rights in the Jiangdong New District.
The plots are located in the Jiangdong New District Headquarters Economic Zone (ecological CBD). The total land area is 34860.61 square meters (about 52.3 mu), and the total transaction price for the land is about 292 million yuan.
Fortune Global 500 Company Hengli Group Co. Ltd. is taking over the plots.
Among them, two plots with a total land area of 23,436.26 square meters (35.16 acres), were won by Haikou Zitong New Materials Co. Ltd. The transaction was funded by Hengli Group Co. Ltd. for 91.416 million yuan.
The land is to be used for the construction of hotels and will cover 4,000 square meters of hotel land and underground retail space. The lease term for the land is 40 years.
The project will introduce golbal top luxury hotel brands and fill the gap for international high-end hotels in the CBD of Jiangdong New Area.
Hengli International trade has also invested a further 20,083,100 yuan into 11,424,35 square meters of land on seperate plots to be used for business and hotels. Around 80% of the land is to be used for business and finance and 20% for hotels. The lease is for 40 years.
The Hengli group will also use part of this land to build a comprehensive headquarters base which will integrate financial services, trade settlement, technology research and development
Founded in 1994, Hengli Group is an international enterprise that encompasses the entire industrial chain of oil refining, petrochemical, polyester new materials and textiles.
The group now has one of the world’s largest PTA factories and one of the world’s largest functional fiber production bases and weaving companies. Hengli Group currently employs 100,000 people, with total revenue of 695.3 billion yuan in 2020, ranking 107th in the world’s top 500. The group has 3 listed companies (Hengli Petrochemical 600346, Songfa Co., Ltd. 603268, Tongli Tourism 834199) and more than 20 entity companies.
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