Hebei province-based Risesun Real Estate Development Co. has signed an agreement with the government of the South Moravian region of the Czech Republic to invest RMB568 million (US$82 million) to build a spa and entertainment center in the region.
Under the terms of the deal, Risesun will establish a joint venture with Czech company Thermal Pasohlávky a.s. to develop the project. No additional financial details were disclosed.
The agreement was signed during the One Belt, One Road summit held in Beijing last weekend.
The project, to be located in Pasohlavky, a South Moravian city popular with tourists, will be over 60,000 square meters. It will include a traditional Czech spa, traditional Chinese medicine clinic, a five-star hotel, shopping mall, nursing home and clinic, commercial buildings and parks, according to a company announc...
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