SPORTACCORD 2024 INSIGHTS: Touchdowns, Home Runs and Slam Dunks
12 Jun 2024 15:50
Chinese high-end real estate developer SINOBO GROUP successfully won the bid to construct the Taizicheng winter sports town in Chongli District, Hebei Province, the site for the Beijing 2022 Olympic Village in Hebei. The company formed joint bid with two other companies, Thaiwoo Tourism and Vacation Co., Ltd. (太舞旅游度假有限公司) and the Beijing Tourism Group.
Winning this bid allows the SINOBO GROUP to start another strategic step and add another significant sport industry project to their corporate portfolio. The partnership is also a noteworthy milestone in the preparation work for Beijing 2022, signaling the start of the construction phase of the town.
The news was announced at a signing ceremony which took place at the China (Langfang) International Economic & Trade Fair on May 18th. Hebei Province Governor and Deputy Governor both attended the ceremony to witness the signing between SINOBO and Taizicheng winter sports town.
The planned investment for the entire project is CNY20bn (USD3.14bn) with SINOBO taking a 70 percent stake of the Taizicheng winter sports town.
The Taizicheng winter sports town is set to become an important Olympic village in the Chongli area of Hebei Province. It will be developed around the Taizicheng railway stop on the Chongli railway line, a branch of the Beijing-Zhangjiakou Intercity Railway.
The size of the area to be redeveloped will be 2.89 sq. Km, with a construction size of 1.5m square meters. A variety of infrastructure and facilities are planned to be built, such as a high-speed railway station, winter sports facilities, commercial real-estate, hotels, cultural and creative facilities, accommodation buildings along with both medical and educational facilities. The project will also need to lease out some of the commercial real estate to attract investors to operate some of the facilities such as the medical and educational sites.
Some of the 2022 Winter Olympics events will take place in Chongli. Design of the Taizicheng town commenced in October 2017 where both domestic and international architects and experts visited the area.
SINOBO have been actively involved in the sports industry in recent years, becoming a majority shareholder of Beijing Guoan Football Club in 2016.
Source: Chinanews
Proofread by Raymond Fitzpatrick
Interview with Thomas Lund: to follow new trends and bring younger generations to the sport
17 Jun 2024 16:00
Related coverage
Hebei Province Governor meets with Finland ambassador to promote winter sports collaboration
11 May 2018
Memorandum signed between Olympic Committees of Beijing and Pyeongchang
15 Dec 2017
Beijing and Almaty officially on the start line for 2022
08 Jan 2015
Yutang Weekly: What happened in the Chinese sports market (8/19-8/25)
25 Aug 2019
Three notions expressed to be the tone of 2022 Games
08 Jan 2015
More from Yutang Sports
SPORTACCORD 2024 INSIGHTS: Touchdowns, Home Runs and Slam Dunks
12 Jun 2024
Interview with Thomas Lund: to follow new trends and bring younger generations to the sport
17 Jun 2024
Interview with Andreas Zagklis: to keep popularization of basketball with all-round strategy
08 Jul 2024
SPORTACCORD 2024 INSIGHTS: Paris 2024 here we come!
02 Jul 2024
The United States Tops Skema Publika's First Annual Sport and Soft Power Ranking
27 Mar 2025
Yutang Sports
loading...