Yingda 1.1 billion Hokkaido Building Five Star Hotel

Yingda Real Estate (00432) announced that the subsidiary has engaged contractors to design and construct top five-star hotels on the site of the second site of Hokkaido, Japan, with a total contract value of 16.28 billion yen (approximately HK$1.131 billion). The hotel will have 100 rooms with a total floor area of 23,300 square meters and is expected to be completed in the fourth quarter of next year. The company pointed out that Hokkaido Niseko has developed into a tourist destination in Japan in recent years, and it is expected that the demand for local tourism and hotel rooms (especially luxury rooms) will continue to grow in the next few years. In the long run, the hotel is expected to increase the company’s profitability.