Travel - Da Nang-Hoi An attract investment

VietNamNet Bridge – Foreign investors are injecting a lot of money in projects in coastal areas from Da Nang to Hoi An which promise to be lucrative investment deals.

From resorts, golf courses…

Hoi An Royal Bay project

VinaCapital and the Sai Thanh International Travel and Investment Company will cooperate to initiate VinaCapital’s plan to establish VinaCapital Hoi An Company Ltd, which will build Hoi An Royal Bay resort with the investment capital of $16mil in Dien Ban district in Quang Nam province. The resort will cover an area of 7.3 ha, which will include a swimming pool, restaurants and clubs.

However, Hoi An Royal Bay is just a small project of VinaCapital in the Da Nang-Hoi An coastal area. The group is planning to invest $150mil in a resort project which includes a five-star 350-room hotel, 15-ha area of villas and 16-hole golf course on Non Nuoc beach. Moreover, it is also planning to inject $200mill in a five-star hotel, a four-star hotel, 1,000 apartments, international school and a shopping centre on the Son Tra peninsula.

Meanwhile, Kingdom Hotel Investments belonging to Saudi Arabia’s Prince Alwaleed Bin Talal Abdulaziz Alsaud has brought back the licenced project on a 15 ha area in front of Ngu Hanh Son mountain. The group plans to spend $65mil on building a 450-room hotel (150 VIP rooms), 15 villas (600 sq m for each), international convention centre, luxury spa area and tennis court.

The 20 ha land plot adjacent to the 15-ha plot has been allocated to Indochina Capital. The investor will inject $80mil to build a sea tourism complex, comprising 250 five-star hotel rooms, 150 luxury apartments, 40 villas and many other entertainment facilities. The project is expected to be kicked off at the end of 2007 and become operational in mid 2009.

On the bank of the Han River will arise Indochina Riverside Towers. In addition to 95 high-grade apartments and a 10-storey office building, there will be modern shopping centre on an area of 6,564 sq m. The project is designed by Shanghai-based Benwood Studio and Hong Kong-based Gravity Partnership

Now Indochina Land, belonging to Indochina Capital, is promoting a project on a yacht wharf and a trade-service area on Son Tra peninsula which will serve international yacht tournaments.

Prior to that, the group decided to invest $50mil in The Nam Hai resort. On March 23, Indochina Capital got a licence to build and develop an 18-hole golf course in Dien Ban district.

At the same time, the Quang Nam People’s Committee granted a licence to Britain’s Qudos Hoi An Company Ltd, which will run the high-grade ecological tourism complex, Qudos Hoi An.

… to “Crescent Moon” new urban area

The investor of “Crescent Moon”, Da Phuoc new urban area, is a famous name, Yamasaki Company, which designed the twin towers of the Trade Centre in New York, the 40-storey bank tower in Seattle in the US, and many other well-known works in Madrid, Seoul, Dubai.

Yamasaki’s partner in the project are Jina, which is well known for new urban area designing, and now is programming the new capital of the RoK, Orange Engineering, specialising in golf courses, which built a famous golf course in the RoK, one of the 100 best golf courses in the world, and Handong E&C, specialising in infrastructure items.

Tae Sun Hong, the project chief, said that 30 designs were made before the official one was selected.

What will Da Phuoc be in Da Nang? This will be an urban area, trade centre and resort complex. “We want to build a symbolic work, like the Sydney Opera House in Australia, while creating an image of an urban area-golf course that can be seen by satellite,” said Mr Hong.

The complex will have the image of a crescent moon. According to Chinese geomancy, the crescent moon symbolises development: on its way to becoming a round moon.

“Da Phuoc will be an urban area of dynamism, dreams and romance,” he said.

Viet Nam Net