Ever­grande Ac­quired Palm Is­land

HK Golfer - - Divots -

New World China Land has agreed to sell its Palm Is­land Re­sort to Ever­grande Real Es­tate Group, China’s sec­ond-largest prop­erty de­vel­oper for RMB 1.1 bil­lion. Opened in 1999, the 27-hole golf course was de­signed by Jack Nick­laus with re­sort style looks like one in South­ern Cal­i­for­nia. A flat chal­leng­ing course with strate­gi­cally placed palm trees, bunkers, lakes and rivers, Palm Is­land has at­tracted im­me­di­ate in­ter­est from many Hong Kong golfers to pur­chase mem­ber­ships. How­ever, the course has been ru­ined by a heavy rain­storm in re­cent years and never looked the same. With the ac­qui­si­tion of Ever­grande, Palm Is­land may re­claim its rep­u­ta­tion as one of the best cour­ses in Pearl River Delta. It also re­mains the only gov­ern­ment-li­censed golf course in the Huiyang dis­trict of Guang­dong Prov­ince and is only 40 min­utes from the Hong Kong/ Shen­zhen bor­der.

Newspapers in English

Newspapers from Hong Kong

© PressReader. All rights reserved.