New Projects

Real Estate and Tourism Development in China

 

Chinese real estate developers have had some of their best years in the past 2 decades. Luxury villas, apartments, and office buildings have skyrocketed at speeds comparable to growing bamboo shoots after heavy rain. Consequently, the pricing on houses has tripled in the past 5 years within major metropolitan cities.

However, this profitable industry has caused big concern for the central government since it has prompted extremely high living costs to the ordinary working class in these cities, and begins to show signs of social instability. Recently, the central government implemented a new policy that removed all state owned companies from the real estate development markets.

The real estate investors, therefore, has quickly shifted their interests into tourist destination development which is highly supported by the central and local government. GCAD design team is now intensively working on a 20,000 square meters (2 hectares) indoor water park, where local developers found good source of hot spring water underneath the site. The design utilized the most popular bathing fashions around the world with state-of-art equipments of stage lighting, LED display panels, surrounding sound, video projection on the pool surface of 20,000 square feet, and a luxury VIP massage saloon of 7,000 square feet. The developer plans to spend 300 million RMB (50 million USD) for the construction and equipments, and aims to open to the public by the end of this year.

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