Construction has commenced on the Xinao Wangchao Hotel in the Qingdao Export Processing Zone and this will be the first four-star standard hotel in the area.
The hotel is invested in and built by Qingdao Zhongfang Xinhui Land Company Limited with a planned investment of RMB210 million. It covers a total area of 22,075 square meters and will be built as a 12-story hotel. The hotel is scheduled to opened by the end of 2009.
The hotel project is expected to enrich and enhance the area around the Qingdao Export Processing Zone, and it will improve the investment environment and internationalization level of the North Coast of Jiaozhou Bay.