Fosun International has signed an agreement with Kerzner International Holdings for development of a new resort, Atlantis, Sanya Hainan, on Hainan Island in China.
The new resort will be built on a 62ha site on Haitang Bay National Coast on the South China Sea. Construction is scheduled to begin by the end of 2013 and be completed in 2016.
Kerzner has chosen the US-based Brennan Beer Gorman Architects to design the project, while Jeffrey Beers, who was part of the teams at Paradise Island and Dubai, will be responsible for the interior design.
The development is expected to feature an Aquaventure Waterpark, as well as a 1,300-room luxury hotel.
The company plans to use more than 10,000 craftsmen to build the new ocean-themed resort, which will employ around 3,500 staff members.
Fosun Tourism & Commercial president Group Qian Jiannong said that within a short period of three years, the company has invested in a number of major projects, including Folli Follie and China International Travel Service.
"Adhering to its investment strategy, Fosun will remain upbeat on the consumption upgrade-related industries and investments in project with enriched consumer experiences in particular," Jiannong said.
Additional facilities offered at the resort include range of bars and lounges, slides and rides at Aquaventure Waterpark, fresh and saltwater pools, lagoons and marine exhibits, including an open air marine habitat, as well as an education centre.
The property will be Fosun’s third venture under the Atlantis brand, following resorts in the Bahamas and Palm Island in Dubai.