China is to gain the world’s third Atlantis resort on the holiday island of Hainan.

Hotel operator Kerzner International, which operates Atlantis resorts in the Bahamas and Dubai, has struck a deal with Chinese conglomerate Fosun International to develop the vast $1.5 billion holiday complex.

The 153-acre property in the city of Sanya will include 1,300 hotel rooms, 18 bars and restaurants, a water park, dolphin shows and other marine life. Work is to start this year, and the resort is due to be completed in 2016.

Kerzner will manage the resort which it claims will “re-define the holiday experience in China and beyond”.

Features at the beach-side property will include new rides in the ‘Aquaventure’ waterpark, a spa and kids club.