Catering to the desires of the country’s super-rich to dock their luxury yachts, China will build a first-class yacht port in the northern city of Tianjin, which is near Beijing.
This premier waterfront destination will cost 9 billion yuan (US$1.35 billion) and will include a 630 room Sheraton hotel, a yacht club and marina, seaside restaurants, retail mall, villas and a promenade. It will cover 900,000 square meters in Tianjin’s Binhai district with 750 berths to accommodate 300-foot-long luxury yachts, according to Yang Shihao, deputy head of Binhai district.
The yacht club will limit membership to people with an annual income over 200,000 yuan (US$30,000) and people who want to buy a yacht will need to have an annual income of more than 2 million yuan (US$300,000).
That shouldn’t be a problem considering the latest Hurun Rich List reports the country has 1,363 billionaires with 97 of them having personal wealth worth over 10 billion yuan.
photo credit: worldarchitecturenews