HAIKOU, September 23. /TASS/. The owners of the artificial bulk island of Phoenix, located off the coast of Hainan, put up for sale the entire block of shares of their company, which has the right to control this land and objects located on it. According to Netease, the value of real estate exceeds 4 billion yuan ($ 565,7 million).

According to the publication, after the acquisition of securities, the new owner will have the right to own the island with all the buildings on it. Automatically, they also become the owner of a 45% stake in a local cruise company providing infrastructure services for tourist liners arriving on the island. Among the main buildings one can find five prestigious modern hotels, built in the form of sails of a giant ship.

The Phoenix Island, also known as the Eastern Dubai, was created in conformity with the latest achievements of architecture, construction and design to attract tourists to the region. This artificial piece of land stretches along 1,25 km, and  is 350 meters wide. The area of ​​buildings located on the island accounts for more than 480,000 square meters.