The Boyuan Construction Group have begun construction of their second largest project in China’s southernmost and only tropical island province, Hainan.

The project, valued at US$43.1 million consists of four luxury 25-story residential buildings totalling 140,000 square metres in the Sanya peninsula on Hainan Island and will be completed by 2012.

The island that has been dubbed the ‘Hawaii of the far East’ is destined to become a top international tourism destination as part of a 10-year plan orchestrated by the Chinese government. Demand for construction and engineering services in the Hainan region, particularly in the major cities of Sanya and Haikou, is being driven by this policy.

‘The region’s emergence as a major international tourist destination continues to lead to opportunities for us to construct tourism-related projects such as hotels as well as supporting residential buildings,’ said Mr. Cai Liang Shou, Chairman of the Boyuan Construction Group.

With China expected to become the largest luxury market in the world by 2014, Hainan is fast in the process of becoming a key destination for wealthy travelers seeking luxury travel. 

Recognising this potential, developers have flocked to the tropical island to invest in luxury accommodation, 7-star hotels and world-class shopping centres.

Luxury living on the island was celebrated in April this year, with some of Asia and the world’s richest flocking to Hainan for the Rendez Vous Festival which featured private jets, luxury and boutique housing and the 65-metre Azimut-Benetti Ambrosia, the world’s biggest megayacht. 

The Boyuan Construction Group, Inc., is a fast-growing construction company in China with commercial, residential and municipal infrastructure projects. The company focuses on construction projects in China’s fastest-growing regions, Hainan being one of them. 

‘Based on our excellent reputation for building first class projects on time and on budget, demand for our construction and engineering services remains strong, particularly in Hainan, where our two largest projects to date are located,’ said Mr Cai.

The company’s largest project to date is a 150,000 square metre US$44.3 million residential project, and a 40,000 square metre US$7.5 million clubhouse faculty in the new Serenity Marina in Sanya city.