Hong Kong’s major investment group to tap into Okinawan markets

November 30, 2014 Wu Li Jun of Ryukyu Shimpo

Hong Kong’s major investing company First Eastern Investment Group, one of low-cost carrier Peace Aviation’s key shareholders, is planning to invest in Okinawan hotel and entertainment industries. The head of the company Victor L.L. Chu, who visited Okinawa to take part in Peace Aviation’s board meeting, explained the plan to the Ryukyu Shimpo on November 29.

The decision to invest in Okinawa came about as a result of a steady increase in Chinese tourists including Hong Kongers coming to the island.

The investing company plans to buy existing hotels, and build new ones, mainly in Naha and Ishigaki Island.

These hotels will be targeted at Chinese tourists. The company is carrying out a market survey on Okinawa.

The number of Chinese tourists to Okinawa is expected to increase. The company plans to increase the number of Peach Aviation flights between Okinawa and Hong Kong to four times per week from next February. It plans to eventually increase the number to several times a day.

Chu already visited Okinawa last year and toured around the hotels. He said, “Many tourists have visited Okinawa. I would like to introduce Chinese-style coffee shops and staff who can speak Chinese, to the hotels in which my company will invest.”

The First Eastern Investment Group holds 30 percent of Peach Aviation’s shares and has about 200 investment projects worldwide. The company carries out half of its projects in 51 Chinese cities and the rest in Europe, Middle East, and the United States. It invests in infrastructure projects on roads, electricity, and water. They also extensively invest in manufacturing, financial, aviation, and hotel industries.

(English translation by T&CT)

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