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Swire Properties is to develop its first resort-style retail complex at Sanya, in Hainan Province, in partnership with CDF Investment & Development Co. Limited – a subsidiary of China Tourism Group Duty Free Corporation Limited, the world’s largest duty-free operator. Located in the heart of Haitang Bay National Coastal Recreation Park, the 200,000-square-metre site enjoys excellent road, rail and air connectivity and will feature arts and cultural elements alongside premium retail. This will be Swire Properties’ eighth large-scale commercial development on the Chinese Mainland and is expected to be completed in phases from 2024. Thanks to its tropical climate and accelerated by the Hainan Free Trade Port policy, Sanya has become one of the most popular travel and leisure destinations in China. Swire Properties will hold 50% of the joint venture company established to develop the new luxury retail project, which is part of its strategic plan to invest a total of HKD100 billion in core markets, including Southeast Asia, Hong Kong, and the Chinese Mainland, to drive growth over the next 10 years.