SHANGHAI-BASED Shimao Group will invest 18 billion yuan in a tourism resort in Qingdao’s Lingshan Bay and Baiguoshu area.

The Lingshan Bay project will feature five-star hotels, apartments, offices, shops, leisure and scenic spots. Construction will start in December and is expected to be completed in 2013.

The Baiguoshu project will include five-star hotels, schools, commercial and residential properties. Construction will begin early next year and finish in 2014.

(Stephy Wang, Han Guangliang)