(Yicai) June 19 — Sanya in China’s southern Hainan province sold four land parcels in a single day for a record CNY4.4 billion (USD612 million), with companies under Liaoning Fangda Group, the controlling shareholder of Hainan Airlines, buying two prime plots for nearly CNY2.9 billion.
The four parcels covered about 36.44 hectares, according to data by corporate data provider Tianyancha released yesterday. Sanya Fangda Health Property Investment, in which Fangda indirectly controls a 50 percent stake, acquired two plots in Haitang Bay totaling about 28.64 hectares.
One of the Haitang Bay parcels, sold for CNY1.3 billion with a unit price of CNY9,633 (USD1,340) per square meter, included 6.85 hectares for residential use and 4.48 hectares for commercial and financial purposes. The other was a mixed-use plot for hospital, residential, and commercial areas priced at CNY1.6 billion, or CNY7,214 (USD1,003) per sqm.
The latest acquisition is part of Fangda’s “Big Health” strategy, according to industry analysts.
Fangda’s businesses include carbon materials, steel, pharmaceuticals, commerce, and aviation. It controls five listed firms: Fangda Carbon, Fangda Special Steel, Northeast Pharmaceutical Group, Zhongxing Shenyang Commercial Building Group, and Hainan Airlines Holding.
In April, Fangda revealed plans to invest CNY5 billion in building a Haitang Bay healthcare complex integrating hospitals, wellness facilities, hotels, and residential communities at the 2025 Global Industrial Investment Promotion Conference for the Hainan Free Trade Port. Fangda Real Estate recently made job listings related to this initiative.
Sanya’s stable property market is one of the reasons investors are attracted to the region. Sales of commercial and residential housing in the city surged 53 percent to 1,354 units last month from a year earlier, covering around 1.60 hectares, according to Zhili Data.
Editor: Martin Kadiev