CT Group champions new golf course

Designed by Lee Schmidt and Brian Curley, who were named Asian Golf Monthly's 'Best Golf Course Architects' last year, the $43.2 million CT Sphinx Golf Club & Residences is being promoted as the most beautiful golf course in Vietnam.

Covering a 200 ha land on the bank of Thay River in Tan Thong Hoi commune, Ho Chi Minh City's Cu Chi district, the complex comprises a 36-hole golf course with an 18-hole professional –caliber course and an 18-hole golf-course for general golfers and 200 luxury villas.

A 10,000sqm Club House inside CT Sphinx Golf Club and Residences will provide restaurants along the river; a business centre for large meetings; luxury boutiques, golf shops, a coffee-bar-wine lounge, gym and entertainment areas for children.

With much of the infrastructure already completed, the project's first 18 holes in the golf course is expected to be gone into operation by the end of next year and the full project finished in 2014.

CT Group is offering three types of villas for sale, measuring 360sqm, 480sqm and 840sqm. Prices have not been set, but a representative from CT Group suggested that that 360sqm villas would be offer at around $388,000- $390,000 per unit.

Tran Kim Chung, chairman of CT Group said: "I believe that our business at CT Sphinx Golf Course and Residences will be very successful. Ho Chi Minh City currently is facing up with the lack of a 36-hole golf course for professional golfers and the project has its own prime location."

Chung said that the city is now mainly served by the 36-hole Thu Duc golf complex in district 9, which has 2,000 members who face difficulties booking tee times. "Our golf-course is only 35 minutes driving from the city's centre and around 40 minutes going by canoes from Thao Dien in District 2 will solve the problem," said Chung.

The firm is offering many promotions for people who would like to purchase a villa in the project or a membership card for the golf course.

The CT Sphinx Golf Course & Residences was acquired from Korea-backed GS Engineering & Construction Corp last year by CT Group for $24 million. After the acquisition, CT Group has been in involved in other M&A activities, including the acquisition of  the 18-story Thien Loc Tower in Ho Chi Minh City's Go Vap district.

Established in 1992, CT Group currently has 36 member companies and is developer of a number of property projects in the southern hub such the CT Plaza, CT Léman and Beehome.