Real Madrid adds luster to China's latest tourist hub

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Just a stone’s throw across a narrow waterway from the world’s largest gambling hub Macao, a former oyster farming island is being transformed into China’s newest tourism haven.

Dubbed by some as China’s answer to Florida’s Orlando, a global tourist magnet with its cluster of major theme parks, Hengqin has seen property prices more than double over the past two years.

The transformation of Hengqin, an island in Zhuhai along the southern coast of Guangdong Province, which is three times as large as Macao, is part of Beijing’s efforts to bolster links between Hong Kong, Macao and nine cities in the Pearl River Delta region, or so-called “Greater Bay Area”, modeled after other dynamic global bay areas such as Tokyo and San Francisco.

Hengqin Chimelon Bay Hotel /Reuters Photo

Dubbed by some as China’s answer to Florida’s Orlando – a global tourist magnet with its cluster of major theme parks, Hengqin has seen property prices more than double over the past two years.

While still a dusty mass of construction sites, Hengqin now draws millions annually to its anchor attraction, the “Chimelong Ocean Kingdom” theme park, with a slew of hotel, malls and sprawling residential developments being built nearby.

Spanish soccer club, Real Madrid, announced last week they would open an interactive virtual reality complex in Hengqin, in partnership with Hong Kong-listed developer, Lai Sun Group.

“Hengqin will be the Orlando of China. Macao is Las Vegas (and) Hong Kong is New York,” said Larry Leung, an executive with Lai Sun that is helping build the Real Madrid complex at its “Novotown” project in Hengqin. “Within an hour you can have them all.”

One of Novotown is under construction at Hengqin Island, China. /Reuters Photo

Novotown’s entertainment mix will also feature China’s first Lionsgate movie world with theme rides from blockbuster films such as "The Hunger Games" and "Twilight", as well as a National Geographic educational center.

High-end hotel chains and luxury yacht-makers are also building more hotels and a marina on Hengqin.

Chinese officials see Hengqin helping Macao diversify away from casinos to a more wholesome tourism industry, with more than 80% of Macao’s public revenue coming from the gaming sector.

Businesses in Macao have been encouraged to invest in Hengqin with the government providing cheaper rent and tax subsidies.

Galaxy Entertainment, Shun Tak and Macao Legend have also earmarked developments for Hengqin. Realtors expect property prices to keep rising once a sea bridge linking Hong Kong and a high speed rail station are completed.

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Source(s): Reuters