The Wall Street Journal Reports,"To make a big profit as a Chinese property developer, it used to be that all you needed to do was build a mall and stuff it with luxury brands".
But as Chinese get richer and have more time for leisure, they want more than just shopping, and developers are moving to meet the demand, providing venues for horse riding, rafting, skiing and more.
Adventurous business types in China enjoy the thrill of sports like polo. Travel has developed their tastes for activities such as scuba diving. Chinese parents want to expose their children to pursuits that are healthy, stimulating, exciting and new.
In Tianjin, 30 minutes by train from Beijing, Goldin Properties Holdings has built China's biggest and most lavish polo club, with the aim of luring horse enthusiasts like Ms. Guo. The development—a business district, a five-star hotel and high-end apartments and villas with polo-club views—is set on 80 hectares of rolling lawns and manicured gardens.
Sporting facilities can be expensive to build and maintain, but some developers see them as a necessary investment.
Consumer demand has led hotels and resorts to quickly ramp up developments of leisure-themed projects, said Sebastian Skiff, executive director of CBRE Retail Services in China.
Skiing is one area of growth. In Zhangjiakou, Malaysia's Genting Bhd. has built China's largest ski resort, with 87 ski runs and 22 lifts. About 160 kilometers northwest of Beijing, Zhangjikou is angling to host the 2022 Winter Olympics. WandaCommercialProperties(Group), China's largest commercial developer, has a resort development in Changbaishan, on the border with North Korea.
Both have large numbers of residential properties for sale. These ski towns are easily accessible from Beijing and cater to locals, offering hot-pot restaurants and hot springs.
Other developers are sinking money into water sports. In Sanya, on Hainan Island off China's southeast coast, Fosun is investing $1.5 billion in the world's third Atlantis hotel, following ones in Dubai and the Bahamas. The Atlantis Sanya will have an aquarium, 20 restaurants, and promises "revolutionary water play" in its water park. "We want to bring concepts that have proven to be successful globally to China," said Mr. Qian. "Chinese consumers are open-minded and welcome new ideas."
The Atlantis Sanya, scheduled to open in 2016, will have 1,300 guest rooms. It is hardly the biggest development for Hainan, which already has about 200 hotels with more on the way. Agile Property Holdings and Morgan Stanley Real Estate are building six five-star hotels and a marina, and have already sold 10,000 apartments at Sanya's Clear Water Bay. The development will offer golf and water sports.
