Recently，Beijing Equity Exchange disclosed two pieces of property rights transfer information: Sanya Phoenix 188bet sports betting app download Investment Group Co., Ltd. and Sanya Yusheng Investment Co., Ltd. both transferred 100% of their equity，The transfer price is 40 respectively.3.7 billion yuan、7.6.4 billion yuan。

What’s worth paying attention to，The two companies jointly hold the equity of Sanya Phoenix 188bet sports betting app download International Cruise Port Development Co., Ltd.，The shareholding ratios are 45% and 10% respectively，The remaining share holder is China Communications Construction Group。The core asset of Sanya Phoenix 188bet sports betting app download International Cruise Port Development Co., Ltd. is the originator of Sanya’s artificial islands—Sanya Phoenix 188bet sports betting app download。

The news that Sanya Phoenix 188bet sports betting app download was sold off quickly caused an uproar in the industry。After all，This is located at the southernmost tip of Hainan Province，As the location of the first leg of the 2008 Beijing Olympic Torch Relay、At its peak, with "sorry, Dubai” is the promotional slogan，House prices once reached 160,000 yuan/square meter、A landmark project in Sanya that became the branch venue of the Spring Festival Gala in 2018，Why did we end up like this？When the craze in Hainan’s real estate market subsides，Where will the future of Sanya Phoenix 188bet sports betting app download go?？How should real estate developers consider the development of artificial islands after this incident？

A Dream of Huangliang on Phoenix 188bet sports betting app download in Sanya

Hainan compares with other provinces in the country，I have seen the big world。This is also the advantage of the 188bet sports betting app download province，Having shouldered the burden of being the experimental field of economic policy for so many years，Various policy controls come one after another。

Sanya Phoenix 188bet sports betting app download was shaped under these rounds of policies.

1. The first artificial 188bet sports betting app download in Hainan was born with difficulty

March 1996，The Hainan Provincial Department of Construction approved the Sanya Port Baipai International Passenger Transport Center project applied by the Sanya Port Authority，Plan to build Baipai 188bet sports betting app download International Passenger Terminal through artificial 188bet sports betting app download filling on the opposite side of Sanya Bay。The next two years，Through sufficient demonstration of hydrology, meteorology and environmental protection，And obtained approval from the competent authorities at all levels in Hainan Province，The final area of ​​the artificial 188bet sports betting app download is set to be 1,200 acres，Named "Baipai 188bet sports betting app download"。

1999，To make up for the lack of construction funds，Sanya Port Group Company (formerly known as Sanya Port Authority) and Zhongcheng Industrial Group, a subsidiary of the Ministry of Justice, jointly established Sanya Zhongcheng International Passenger Transport Co., Ltd.，Registered capital 10 million yuan，Jointly develop Bai Pai 188bet sports betting app download。

2000，The second planning demonstration reduced the reclamation area to 548 acres，And gained the province、City’s approvals at all levels，Agree to build deep water terminal、Artificial 188bet sports betting app download and cross-sea bridge。

2002，Bai Pai 188bet sports betting app download faces financial crisis again，Attracting the attention of many private capital。final，Zeng Xianyun, a Hubei businessman engaged in real estate in Hainan, acquired Sanya Zhongcheng International from Zhongcheng Group for 7 million yuan，Mainly operating and developing Bai Pai 188bet sports betting app download project。

According to the investment and construction contract signed by Zeng Xianyun and the Sanya Municipal Government，An international cruise port is planned to be built on the 188bet sports betting app download、International Conference Center (seven-star hotel)、5-Building International Health Resort Center、Business Villa Club、International Yacht Club, etc.，And become a landmark building in Sanya，Total investment exceeds 5 billion yuan。

October 2006，Dock、The joint inspection building and cross-sea bridge projects are completed。Approved by Sanya Civil Affairs Bureau，Baipai Artificial 188bet sports betting app download was officially renamed Phoenix 188bet sports betting app download。

2. The international passenger terminal has been transformed into a 188bet sports betting app download project

2006，Sanya Phoenix 188bet sports betting app download project main project completed。International cruise port 80,000-ton cruise berth opened for navigation，Known as “China’s first dedicated international cruise terminal”。

Behind large-scale development is large-scale capital investment，Sanya Phoenix 188bet sports betting app download once again fell into financial difficulties。

Zhejiang Guodu Holdings relies on its passion to create "Oriental Dubai"，Purchased Phoenix 188bet sports betting app download equity from Zeng Xianyun，Became the largest shareholder of Sanya Zhongcheng International。The company’s registered capital was changed to 500 million yuan，The investment amount also increased to 10 billion yuan。

Re-evaluation and design of the overall planning of the project，Sanya Phoenix 188bet sports betting app download is adjusted into a tourism complex project。Famous American Chinese designer、Ma Yansong, the designer of the Monroe Building in Toronto, Canada, serves as the chief designer of the project。

2007，Sanya Phoenix 188bet sports betting app download’s iconic five-sail-shaped building complex planning plan approved。Sanya Zhongcheng International Company changed its name to "Sanya Phoenix 188bet sports betting app download Development Co., Ltd."，A dream 188bet sports betting app download with a total investment of 10 billion yuan emerges from the South China Sea。According to the idea of ​​the boss of Zhejiang Guodu Holdings，Sanya Phoenix 188bet sports betting app download is the benchmark for Dubai，There will be a mansion with sea view on the 188bet sports betting app download、Seven-star hotel、Yacht clubs and other entertainment venues，Become an internationally renowned cruise capital、Seaport City、Dream 188bet sports betting app download。

3. The short-lived peak house price

2009 is the beginning of Sanya Phoenix 188bet sports betting app download’s dream of prosperity。This year，The State Council issued Document No. 44 "Several Opinions of the State Council on Promoting the Construction and Development of Hainan International Tourism 188bet sports betting app download"，The document proposes that Hainan will initially build a world-class 188bet sports betting app download leisure resort by 2020。The regional market imagination has been infinitely expanded，Hainan once again sets off a real estate development boom。

January 2010，Five days after the construction of the international tourist 188bet sports betting app download was announced，Hainan commercial housing transaction is about 17.1 billion yuan，is the total for the whole year of 2008，House prices have increased five times the national rate。

Same year，Sanya Phoenix 188bet sports betting app download forms four major shareholders，respectively the capital of Zhejiang、Zeng Xianyun、Li Shuping and Zhou Lin of Far East Real Estate，And established Sanya Phoenix 188bet sports betting app download Cruise Port Company，100% controlling stake in Sanya Phoenix 188bet sports betting app download Development Co., Ltd.，The actual assets of Sanya Phoenix 188bet sports betting app download Development Co., Ltd.’s five landmark buildings are all property-right hotels。

Same，The property-right hotel apartments of different sizes distributed in these five buildings are also experiencing madness。According to media reports at the time，Early 2010，Phoenix 188bet sports betting app download Phase I Real Estate Opening，700 sets average price 6.The house worth 50,000 yuan/square meter was sold out on the same day。When the property market is at its hottest，The house price here once soared to 150,000 yuan/square meter，Known as “Hainan’s most expensive real estate”。

Locals are looking forward to the ocean and sighing, while investors are eager to achieve their goals.

The madness lasted for 3 years。Starting from 2013，The hot property market will return to rationality，Phoenix 188bet sports betting app download house prices in Sanya have been cut in half to 70,000 yuan per square meter，Countless investors have been “trapped”。Lack of blood recovery from liquidated properties，Zhejiang Guodu Holdings’ funds are under pressure amid the collapse of private lending。

4、 State-owned enterprises intervene，Trying to put the out-of-control "big ship" back on the "right track" of the 188bet sports betting app download

At a critical moment，Zeng Xianyun once again brought a new investor in 2014 - the central enterprise giant China Communications Construction，Transfer 45% of the equity of Sanya Phoenix 188bet sports betting app download Cruise Port Company to China Communications Construction，The total amount of this transaction is 49.6.2 billion yuan。This is the first transfer of Sanya Phoenix 188bet sports betting app download assets。

5 months after China Communications Construction took over Sanya Phoenix 188bet sports betting app download，The Ministry of Transport announced that it will launch a pilot program for cruise transportation。As one of the 4 pilot ports，Sanya Phoenix 188bet sports betting app download International Cruise Port has also begun planning to build 4 100,000-22.50,000-ton cruise terminal，Aims to become China’s largest international cruise home port among the top 10 in the world。Complete such a plan，Need to fill another 470,000 square meters of artificial 188bet sports betting app download。

2017，Sanya Phoenix 188bet sports betting app download Phase II main reclamation project completed，And built two 150,000-ton cruise berths。Two 22.A 50,000-ton cruise berth has also been built，Now applying for coastline approval from the Ministry of Transport。Currently，The construction scale of Sanya Phoenix 188bet sports betting app download Terminal has become Asia’s largest dedicated international cruise port。Phoenix 188bet sports betting app download finally begins to exert force in the original direction。

5、 The "environmental protection storm" became the last straw that broke Sanya Phoenix 188bet sports betting app download

From the moment Hainan became a paradise for investors，has already foreshadowed its ending。The disorder and imbalance of artificial 188bet sports betting app download development、Real estate is overheated，It brings about the destruction of Hainan coastal ecology。

End of 2017，The most stringent environmental supervision storm in history sweeps across Hainan，Sanya Phoenix 188bet sports betting app download becomes the target of public criticism。In the feedback from the Central Environmental Protection Inspection Team to the Hainan Provincial Government，Criticized Sanya City’s Phoenix 188bet sports betting app download reclamation project for “obtaining sea area use rights in the name of an international passenger port and cruise port，But it is actually mainly used for real estate and hotel development，Changes in water flow due to 188bet sports betting app download filling，The western shoreline of Sanya Bay is eroded，In order to repair the beach, we had to spend huge sums of money to artificially replenish the sand in Sanya Bay。”

Early 2018，Sanya Phoenix 188bet sports betting app download accepts construction suspension、Handling of business suspension，At the same time, more than 37 million yuan of ecological compensation funds were spent。

After，The real estate development of Phoenix 188bet sports betting app download in Sanya is at a standstill。Latest listing information display，Under construction in the first phase，Except for the cruise port terminal and 5 health resort apartment hotels (including property-right hotels) that have been completed，International Yacht Club、Olympic Square、Commercial and tourist projects such as commercial streets have not yet been constructed。

If you lose your 188bet sports betting app download project, why can you only sell it?

1. There is a lack of long-term "recovery" projects and huge financial pressure

Poor hotel operating data

Transfer information display，As of June 30, 2019，Total interest-bearing liabilities of Sanya Phoenix 188bet sports betting app download International Cruise Port Development Co., Ltd. 104.5.2 billion yuan。

According to data from Qunar.com，Sanya Phoenix 188bet sports betting app download Resort Hotel's superior sea view room is priced at 466 yuan for the first night during the National Day，The price is far from the seven-star hotel originally positioned。

According to China Communications Construction’s 2018 Annual Report，The RMB 1 billion invested in Sanya Phoenix 188bet sports betting app download International Cruise Port Development Co., Ltd. five years ago also suffered a total loss at the end of 2018，Sanya Phoenix 188bet sports betting app download no longer appears in its 2019 interim report。

Uncertain prospects for the 188bet sports betting app download market

The construction scale of Sanya Phoenix 188bet sports betting app download Cruise Terminal has become Asia’s largest dedicated international cruise port。However，China’s cruise tourism market has experienced rapid and rapid development for more than 10 years，Enter the shift from "high-speed growth" to "high quality、Strategic adjustment period of “high-grade development”。

According to the "2018 China Cruise Market Annual Data Report"，China’s cruise ports received 976 cruise ships in 2018,17 year-on-year decrease.3%，The number of inbound and outbound tourists received is 488.670,000 people，Decreased by 1 year-on-year.2%。Ranking based on the number of inbound and outbound tourists，Sanya Phoenix 188bet sports betting app download International Cruise Port ranks only tenth in the country。

However, the 188bet sports betting app download market has a high concentration of passengers，The top five 188bet sports betting app download ports received a total of 770 cruises，78% of the country.8%，The number of inbound and outbound tourists reached 456.92 people，93% of the country.5%。

As my country’s first dedicated cruise terminal，Phoenix 188bet sports betting app download was put into use in November 2006，Passenger throughput that year was 5476，Passenger throughput in 2008 was 170,000。Ten years later，As of December 12, 2018，The total number of people entering and leaving the port is about 8.50,000 people。

2. Sanya Phoenix 188bet sports betting app download is basically positioned as a cruise port in the future

The nearest major policy in Hainan 188bet sports betting app download is April 13, 2018，At the "30th Anniversary Conference of the Establishment of the Provincial Special Economic Zone" in Hainan，Announced that Hainan will build a free trade pilot zone on the entire 188bet sports betting app download。The final meeting of the "Innovative Development Plan and Policy Suggestions for Sanya Phoenix 188bet sports betting app download in Hainan Province" was held in Beijing。

Report submitted，Phoenix 188bet sports betting app download’s innovative development should adhere to the goal of “Pioneer Zone for Free Trade Port with Chinese Characteristics”，

• Accelerate the "construction of an international 188bet sports betting app download home port" with a complete variety of software and hardware environments

• Supporting the construction of "188bet sports betting app download High-end Tourism Consumption Center" with world-leading high-quality services

• Promote the construction of the "Hainan Free Trade Pilot Zone" with a healthier and more flexible market environment

It is basically certain that Sanya Phoenix 188bet sports betting app download will be positioned as an international tourist cruise port in the future。The initial investment and operation payback period will be very long，There is no quick feedback from cash flow from properties available for sale，It is really difficult for private enterprises to survive。

How should 188bet sports betting app download developers avoid risks in the development of artificial islands?

1. Profit-seeking reclamation project for 188bet sports betting app download developers

Sanya Phoenix 188bet sports betting app download was not the only one that fell in the Hainan environmental protection storm in 2017。Pearl of the South China Sea、Riyue Bay、Hengdai Dahua 188bet sports betting app download、Banshan Peninsula of Zhonghong Shares、Ruyi 188bet sports betting app download，and R&F Mangrove Bay have all received different opinions，Involving many well-known real estate companies。

Why 188bet sports betting app download developers favor reclamation projects？According to Caixin report，Reclamation is a "10-profit deal"，Because the cost of reclamation is generally low。 The article "Driving Mechanism and Demand Forecast Model of China's Large-Scale Reclamation" points out，The cost of reclamation per hectare is 2.1-4.5 million yuan，equivalent to more than 210-450 yuan/square meter，But after becoming a project，The price per square meter can exceed 10,000 yuan。

According to the data provided by the inspection team，After 2013，The average annual reclamation area in Hainan Province reaches 550 hectares，5 times the average annual reclamation area in the previous 20 years，Hainan coastal ecosystem caused a certain degree of damage。Hainan proposes to get rid of its dependence on 188bet sports betting app download with the determination of a strong man to cut off his wrist。

Hainan 188bet sports betting app download has slowed down significantly.

Based on latest data，January-August 2019，Hainan’s 188bet sports betting app download sales area decreased by 52%，188bet sports betting app download sales reduced by 50%。One time，188bet sports betting app download developers are in a dilemma。

2. Things to note when developing reclamation projects

188bet sports betting app download developers should look at the development of coastlines from several aspects: on the one hand, early control and awareness are weak，Resulting in a large amount of high-quality coastline resources being simply used for residential development，Become an exclusive resource for "a few people"。But on the other hand，Local development really needs financial support，Urban infrastructure requires corporate investment，188bet sports betting app download companies have also contributed to urban development，Reclamation projects are important to enterprises and local governments，The immediate benefits outweigh the immediate disadvantages。

More than Hainan，The reclamation projects we are currently dealing with are all over the country’s coastal cities。

From a government perspective，The 188bet sports betting app download process of my country’s coastal cities，You can learn more from the successful experiences of other coastal cities around the world。Such as Singapore，We once wrote a special article，《Annual passenger flow 20 million，How Asia’s premier 188bet sports betting app download resort—Singapore’s Sentosa is made？》.

This is what makes Singapore so advanced，It does not rely on coastal reclamation、Encirclement and suppression of wetlands、Large-scale port 188bet sports betting app download，Instead, the ecosystem that accompanies the city is retained in the process of urban 188bet sports betting app download，Preserve the natural coastline to the greatest extent，And develop coastal ecology into a resource that attracts tourists from all over the world。Singapore has successfully integrated a large area of ​​coastal original mangroves、Terrestrial vegetation、Urban Greening and Gardens，There are also high-density cities and ports。

For 188bet sports betting app download developers, you need to pay attention to the following points:

Don’t break the red line。There are two red lines in 188bet sports betting app download development: the red line of land use and the red line of environmental protection。Development of a project，Consider society、Economy、Environment and other factors，Don’t break through policy restrictions and legal boundaries。

Perform a reasonable assessment of the city。The development of a city has its own laws，If you only rely on 188bet sports betting app download without industry、Industry as the basis，This is unsustainable。For example, Hainan，Its leading industry is grand tourism、Mainly the big ecology，Not 188bet sports betting app download，Over-development of 188bet sports betting app download projects is a manifestation of eagerness for quick success。

Carry out adequate environmental assessment of the land in the early stage。188bet sports betting app download companies should be familiar with laws, regulations and environmental protection-related industrial policies when acquiring land，Strictly implement the relevant regulations on environmental impact assessment，188bet sports betting app download development must not violate ecological development、On the premise of not damaging the natural environment，Don’t take advantage of policy loopholes。

Anyway，When 188bet sports betting app download companies participate in reclamation projects，Be sure to conduct inspections and evaluations in all aspects，As long as it is within the allowed range，Within the preparation of the master plan，There is no big problem in 188bet sports betting app download。

*This article comesSource：WeChat publicPublic account "188bet sports betting app download Observer",(ID:realestatereview)，Author: YanResearch Department, original title: "Sanya Phoenix 188bet sports betting app download “sinked”，Is the artificial 188bet sports betting app download model still a hot topic for cultural tourism real estate operations?？》.