Central coast ventures light up

March 04, 2020 | 10:00
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In the midst of the COVID-19 outbreak, the vitality of Vietnam’s central region is intensifying with tourism hotspots attracting massive investment as the multitude of infrastructure and entertainment projects continue to progress unabated.
central coast ventures light up
It has been all systems going for construction work of resorts across the central region

As the whole world is focused on the fight against COVID-19, in Vietnam, the central region’s actions have been praised by the World Health Organization. With the country working hard to prevent the spread of the virus, it has proved to be a safe destination for domestic and international tourists, and a good environment for investors. Although many tours have been cancelled and resorts suffer from a lack of visitors, investors and experts in the sector claim the region’s effective prevention measures to date ensure that it remains an excellent tourist destination.

Le Tri Thanh, Chairman of Quang Nam People’s Committee, spoke about how the province has circulated information on the best methods for disease prevention in the locality, in order to ensure the highest level of protection for tourists and residents. Furthermore, the People’s Committee is also supporting investors and businesses to overcome difficulties and to create the best conditions for ongoing projects.

According to Thanh, the local economy, including tourism, the automobile industry, agriculture, consumer goods, and real estate could take a hit in the current situation. Nevertheless, overall the local economy is becoming more stable, with Truong Hai automobile factory operating as normal, and high-tech agriculture and real estate projects being implemented on schedule.

For example, Hoiana Casino Resort Complex is urgently completing its first phase, with plans to launch in the second quarter of 2020. The first phase includes a casino with 140 tables and over 300 slot machines, a hotel complex of more than 1,000 rooms, and an 18-hole golf course. Work on the Hoiana project began in 2010, with the total investment of $4 billion, deployed on an area of nearly 1,000 hectares in seven stages over a 13-year period.

Danang is also host to a number of ongoing projects, such as the Sunshine aerospace components factory, led by Universal Alloy Corporation. The factory, located in Danang Hi-tech Park, started construction in March 2019, with the total investment capital of $170 million. It is expected to provide aircraft fuselage parts and engine parts for Rolls Royce, and is set to commence production and business activities next month.

The 5-star/$100 million Mikazuki Spa & Hotel Resort project in Danang’s Xuan Thieu tourist area led by Japan’s Mikazuki JSC is also on track to open its doors in April. The entertainment area fits the criteria of the city’s tourism development strategy, as well as spearheading the development of Danang’s northwestern coastal area. This area is also home to Aria Danang, conceived by Hanoi Non Nuoc Tourism Investment JSC in conjunction with Danh Khoi Real Estate JSC whose 95 per cent stake is owned by property firm NetLand. The hotel and resort covers an area of 7.5ha, with 28 villas on Non Nuoc Beach and four 5-star condotel apartment towers. Work on the foundations is expected to be completed on schedule in the second quarter of 2020.

In terms of infrastructure, the Hai Van II road tunnel project, invested by Deo Ca Investment Group JSC with the total investment capital of VND5 trillion ($217.4 million), is expected to be inaugurated in September.

In Quy Nhon city of Binh Dinh province, TMS Luxury Hotel Quy Nhon Beach has a scale of 2,600 square metres, designed with 42 floors (40 floors and two basements). Currently, the main investor TMS Group is rushing to complete and hand over to customers in the shortest time possible. TMS Luxury Hotel Quy Nhon Beach is a 5-star utility system with 700 hotel rooms and luxury apartments, and four floors including a commercial centre, swimming pool, sky bar, gym, restaurant, supermarket, Scots English School, Kid-zone entertainment area, and a high-quality general clinic.

Meanwhile, in Tuy Hoa city of Phu Yen province, a great deal of work is being carried out. This includes Apec Mandala Wyndham Phu Yen, a complex of hotel apartments and high-class commercial centres, invested by APEC Group. The project is built on 5,500sq.m of land, with a total floor area of over 73,000sq.m.

The work includes a basement and 27 storeys, and is expected to be completed within 390 days and put into use in 2021. Apec Mandala Wyndham Phu Yen will provide 1,055 hotel apartments, solving the problem of high-class accommodation and entertainment in Phu Yen, changing the face of the resort real estate market, and promoting the tourism potential of Phu Yen.

In addition, Tuy Hoa also has many other schemes in progress, such as the Tien Dung Hotel complex, the Dat Xanh Mien Trung Group’s premium shophouses on the Hung Vuong-Tuy Hoa route, and the VietBeach luxury resort.

By Thanh Pham

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