Investment in cultural tourism projects delivered by the OCT Group (Overseas Chinese Town Enterprises) and its subsidiaries during the first half of 2019, reached around 170 billion yuan.
One of the OCT Group’s most recent investments was for a parcel of land in Baishuizhai Town in the Zengcheng District, Guangzhou. The Group paid 574 million yuan for the land, which they will use for the cultural tourism industry. The total investment for the project is around 1.5 billion yuan.
Several months ago, OCT acquired the 20-year managerial authority of Baishuixian Waterfall Scenic Spot in Baishuizhai. The site comes with an annual management fee of 10 million yuan, and the total investment for the project was 1 billion yuan.
OCT have also invested 10 billion yuan in tourism projects in Yangxi County, Yangjiang City and the Guangdong Province, as well as an 11-billion-yuan investment in Yangshan County, Qingyuan, and 20 billion yuan in Linyi, Shandong.
These projects involve the collaboration of several industries, including cultural tourism, real estate, hotels, themed business, ecological leisure, healthcare and more.
OCT has also completed the initial layout of the Guangdong-Hong Kong-Macao Greater Bay Area through investing in the Pearl River Delta region. The project involves a number of different cultural tourism developments.
The cultural tourism projects in Guangdong are expected to be completed after 2020.