Dubai Oriental, which has shrunk by more than 2 billion yuan in five years and was once 160,000 yuan/flat, has been dumped and sold

category:Finance
 Dubai Oriental, which has shrunk by more than 2 billion yuan in five years and was once 160,000 yuan/flat, has been dumped and sold


As the most famous originator of artificial island in Hainan, the construction of Phoenix Island began in Dubai. From the official website of Phoenix Island, its construction goal is to build a high-end tourism and vacation complex with five major themes, including cruise theme leisure port, Silk Road Free Trade Zone, Marine hydrophilic tourism bay, health resort and health resort, cultural entertainment island and so on, relying on the cruise industry, so as to build a cruise capital, seaport city, and so on. The Island of Dreams.

Photo Source: Phoenix Island, Sanya, Hainan

Daily Economic News reporter visited a number of travel website platforms, which are similar to Sanya Phoenix Island: Sanyas luxury paradise, comparable to Dubais Dream Island Title Travel notes, as well as Every room can see the sea, Sanya Phoenix Island is comparable to Miami cruise capital, the city of seaports, Compare with Dubais Dream Island and so on.

Among the list of successive owners of Phoenix Island, Zeng Xianyun is the most famous. Zeng Xianyuns most famous comment is that in 2013, Hainan housing prices should be differentiated, and do not expect everyone to be able to afford housing, which is incorrect in itself. Therefore, housing prices should be divided into two parts, one is that the government should solve those who need housing urgently but can not afford it; the other is that the market economy regulates the development of real estate, allowing the rich to improve housing conditions.

Experienced the opening second, high-priced open purchase, also experienced from the sky-high price was cut down, the central environmental protection supervision storm, and now is listed for transfer, Zeng Xianyuns once trump asset Phoenix Island, how to step down the altar?

According to media reports at that time, on January 11, 2010, Phoenix Island apartment opened, 700 apartments a day second light. From 2010 to 2011, the highest housing prices in Phoenix Island reached 150,000 to 160,000 yuan per square meter. However, since 2013, the upsurge has faded, and the house price in Phoenix Island has fallen to 70,000 yuan per square metre, with countless investors being trapped.

In 2014, China established diplomatic relations with Phoenix Island and took 45% of Phoenix Island cruise port, with a transaction value of 4.962 billion yuan, which was regarded as a model of actively developing mixed ownership economy in that year. Daily Economic News reporter learned that at the signing ceremony, China Jiaotong dispatched Chen Fenjian, then president, two assistants to president, as well as the group law department, investment department, Hainan regional headquarters, investment company and other departments, and publicly expressed that the main energy will be on the construction of projects. Specific operational matters should be handed over to professional companies.

However, it can not be ignored that after the completion of the reorganization, the Phoenix Island Cruise Port will become a subsidiary company of Chinas diplomatic construction, while the Phoenix Island Development in Sanya and the Phoenix Island Real Estate in Sanya will become a wholly owned subsidiary of the Phoenix Island Cruise Port.

This is the first transfer of Phoenix Island assets.

Compared with the two equity transfers, the price of 45% equity is 4.962 billion yuan, and the price of 55% equity (cruise port company assets and Yusheng investment bundled equity) is 4.801 billion yuan. According to this calculation, in the past five years, the Phoenix Island in the era of Chinas diplomatic construction dropped to nearly 2.3 billion yuan.

Flourishing reclamation projects that have been called to a halt

In fact, Hainan is far more than Phoenix Island in Sanya, a high-end, luxurious reclamation project, also known as Oriental Dubai.

Without exception, these reclamation projects are listed as key projects in Hainan Province or local municipalities and supported by the local government in different ways.

But at the same time, reclamation does cause some damage to ecosystems, such as coral reef shrinkage, shellfish damage in Baidiebei Reserve, coastal species decline and so on. However, before the intervention of the central environmental protection department, these problems did not attract the attention of the local government.

In August 2017, the Central Environmental Protection Supervision Group launched environmental protection supervision in Hainan. According to the data provided by the inspection team, after 2013, the average annual reclamation area in Hainan Province reached 550 hectares, five times the average annual reclamation area in the previous 20 years.

Immediately, Hainan Province asked cities and counties to implement double suspension (suspension of construction and business) in comparison with several illegal projects mentioned in the feedback of the Central Environmental Protection Supervision. Most reclamation projects were not exempted, while Phoenix Island was fined 37 million yuan in ecological compensation funds in this environmental storm.

Source of Nightscape Pictures of Phoenix Island, Sanya, Hainan: Photograph Network

There is also the East Miami reclamation project, the Pearl of the South China Sea, which can be called Chinas most demonic artificial island, similar to the Eight Diagrams, costing 5 billion yuan to build, larger than 358 football fields.

The fate of Hongruyi Island, the largest reclamation artificial island in Haikou, is even worse. The project was entangled with lawsuits and debts at the outset, then became the last straw to bring down Wang Yonghong, and was almost buried in the environmental storm.

Now, some old reclamation projects are quietly back to work after rectification, but no new reclamation projects can be approved. After the establishment of an ecological province, the history of reclamation and land-making in Hainan may eventually become a thing of the past.