Qingdao Henglu Tourism Development Co., Ltd. (Henglu) won the auction of two pieces of land with 370 million yuan in Jiaozhou, Qingdao, Shandong province on March 16, 2020. Henglu is a wholly-owned subsidiary of Qingdao Evergrande Water World Tourism Development Co., Ltd. This major waterpark project is being promoted by the Qingdao Municipal Committee and government with a total investment of around 50 billion yuan ($7bn).
It is said that Evergrande Water World covers an area of about 2,333,333 sq.m, of which 666,667 sq.m is to be used for water world, 333,333 sq.m for hotels, 1,333,333 sq.m for commercial and retail center, and supporting infrastructure. 22 billion yuan($3bn) is being injected into Water World, hotels and other public places, with the aim of making the resort the world’s leading indoor, all-weather and all-season hot spring waterpark. The park will also be home to children’s entertainment areas, sport halls, challenging attractions and extreme sports halls. The project is expected to welcome around 7 million tourists every year and achieve around 1.2 billion yuan($168.6m) in tax annually. (2020/04/20) |