Sunac China Holdings Ltd has released its 2018 annual financial report. The report shows that in 2018, Sunac’s total revenue hit 124.75 billion yuan, up 89.4 percent year-on-year.
In the same period properties for sale reached 460.83 billion yuan, up 27.3 percent year-on-year, meaning Sunac China Holdings maintain its position of ranking fourth in the industry.
At the beginning of 2019, Sunac announced a development strategy, which laid out four strategic sections, including Sunac Real Estate, Sunac Service, Sunac Cultural Tourism and Sunac Culture.
Sunac recently completed the acquisition of Wanda Cultural Tourism projects, meaning the property developer has officially joined the Chinese Cultural Tourism industry.
Sunac’s presence in the cultural tourism sector has been steadily growing. In June 2019, the Guangzhou Sunac Cultural Tourism City and Wuxi Sunac Cultural Tourism City will open, which are Sunac Cultural Tourism’s first established projects.
Sunac has also been involved in the development of several cultural tourism projects in different regions of China, including the development of urban culture, comprising of parks, hotels and shopping malls in each city, and the construction of water attractions, including a sea world, water world, movie world, sports world, show, grand theatre and conference centre.
To date, Sunac Cultural Tourism has established 10 cultural tourism cities, four cultural tourism resorts and nine cultural tourism towns in China, including 39 parks, 24 commercial entities and nearly 70 hotels.