Hong Kong's Great Harvest Maeta wants to diversify from its core bulker business to cut shipping risk.
It has residential projects planned in Haikou, it said.
Chairman Yan Kim Po said: "To capture the opportunity prompted by the residential demands in Haikou, the group seeks the possibility to redevelop the project into cultural and tourism real estate project to construct villas, loft apartment, low density villas, retail, car park and other ancillary facilities with approximately 130,000 square metres."
