Phu Quoc to lead VN resorts towards world standard

October 10, 2016 | 11:34
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With the gearing-up of investments by large property developers on Phu Quoc Island this year, coupled with the expected entering of global hotels and resorts brands, the "paradise pearl island" will promote the development of the resort property market in Viet Nam by directing it towards global standards.
BIM Group has pioneered in partnering with global hotels and resort brands to develop the first-ever model resort complex in Phú Quốc. - VNS Photo

Rich in tourism potential, but largely untapped, Phu Quoc Island, in recent years, attracted billions of dollars of investments by big names, such as BIM Group, Sun Group and Vingroup, in huge resort projects meeting international standards.

The resort property segment of Phu Quoc Island gained the spotlight and saw breakthroughs in investments this year, Duong Thuy Dung, Head of Market Research at real estate consultancy CBRE Viet Nam, said at a conference about resort properties early this year. Dung cited statistics showing that occupancy rates in four-star and five-star rooms in Phu Quoc was always high, at more than 90 per cent.

One highlight of the resort property segment this year was Phu Quoc Marina, a luxury resort and recreation complex developed by BIM Group, which was expected to bring new standards in resorts to the island.

BIM Group has pioneered in partnering with global hotels and resort brands to develop the first-ever model resort complex in Phu Quoc.

Doan Quoc Huy, BIM Group's deputy chairman, noted, "The global brands have their own strict regulations and principles in selecting partners. Thus, cooperation with them has reflected BIM Group's efforts and capacity in meeting their requirements. This is due to a combination of vision, strategy, prestige and financial capacity," Huy said.

Huy added that the world's leading hotels and resort brands, such as InterContinental, Regent, and Fussion Suites, is expected to build in Phu Quoc Marina.

With its partnership with global brands, BIM Group targeted to develop the resort property segment of Viet Nam to a higher level, as well as setting a new market benchmark: a combination of luxury resorts and trendy recreation, Huy said.

The competition among big developers would also drive the property market here forward to be equal to those of world class.

Phu Quoc Island expected to welcome some 5 to 7 million tourist arrivals by 2030, from just a modest 800,000 arrivals in 2014.

Meanwhile, in the first half of this year, tourist arrivals at the island totaled nearly 1 million.


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