Duxton chiefs aim at Ba Ria

The firm’s representative in Vietnam Dang Di Nghia said the detailed project 1:500 plan was approved by Ba Ria-Vung Tau provincial authority and it had filed an application for acquiring 3.15 hectares in Vung Tau city’s Bai Truoc area.

“Land is always a big issue for any project development in Vietnam, we expect to be handed over land in a short time,” said Nghia. The project, licenced in 2009 and jointly developed by Low Keng Huat and National Oil Services Company of Vietnam, comprises an 18-floor Duxton hotel, a 25 floor office building and two 21-floor residential blocks.

Low Keng Huat and its Vietnamese partner planned to pump about $80 million into this project to make it one of the most luxurious hotel and residential complexes in Vung Tau. The developers’ original plan to complete the project by 2014 had been knocked back due to delays in handing over the land.

Low Keng Huat owns and manages the four-star Duxton Hotel Saigon in Ho Chi Minh City.
Nghia added that current economic challenges did not affect the company’s investment plan in Vietnam as the Singaporean developer considering Vietnam a priority market.

Duxton Hotel Saigon is one of the most effective four-star hotels in the second city. Meanwhile, the growing number of tourists to Ba Ria-Vung Tau is promising a huge potential for the firm’s project there, said Nghia.

Ba Ria-Vung Tau in recent years has attracted many foreign developers to set up tourism property projects. US’ Winvest Investment LLC is developing a $4 billion resort in the province.

Canada-based Asia Coast Development Limited is building $.4.1 billion  Las Vegas-style Ho Tram Strip integrated resort there.