The Lan Kwai Fong Group and Mission Hills Group announced a partnership yesterday to develop a RMB 2 billion leisure complex located in Haikou, capital of Hainan island.
Upon its completion by the end of 2013, Mission Hills-Lan Kwai Fong-Haikou will be a 240,000-square-meter retail, shopping, entertainment and dining complex that will adjoin the Mission Hills Haikou International Golf Resort, which opened last year.
Ken Chu, CEO and chairman of Mission Hills Group, said that his company will finance the project while Lan Kwai Fong will manage it. He did not offer a breakdown of the financing.
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