MDA Group to invest $16.3 million in Thai Nguyen golf course

August 11, 2023 | 17:05
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South Korean conglomerate, MDA Group, is set to construct an 18-hole golf course in the Thanh Cong commune, Pho Yen city, with an investment totalling more than VND 387 billion (approximately $16.3 million).
MDA Group to invest $16.3 million in Thai Nguyen golf course

The golf course, named Glory, will span close to 54 hectares and will include a full-service clubhouse and additional infrastructure. Of the projected budget, 20 per cent will be directly invested by the company, while the remainder will be mobilised in alignment with the project's progress.

Thai Nguyen People's Committee gave the nod for investment in the project to MDA G&C Ltd., a subsidiary of MDA Group, in June. The conglomerate's website also highlighted its ongoing golf course development in Thai Nguyen.

Founded in 2006, MDA's core competencies lie in construction and industrial real estate. It swiftly ventured into Vietnamese business operations shortly after inception.

In 2021, representatives from the South Korean enterprise met with Thai Nguyen provincial leaders, proposing an integrated golf course, ecological zone, and resort villa complex in Pho Yen.

The Glory golf course will be located in the villages of Nhe and Na Lang, in Thanh Cong commune. Its prime location ensures connectivity, being just 12km from Pho Yen city centre, 32km from Thai Nguyen, and 60km from downtown Hanoi. The northern border of the project touches the capital's fifth ring road, while the south overlooks Suoi Lanh Lake.

The project's proposed development area is predominantly forest, accounting for over 48 of the 54ha, with non-agricultural land constituting about 1.3ha.

Upon securing approval for the project and successfully changing the land-use purpose, the company plans to start construction and infrastructural development from the fourth quarter of 2023. The project is anticipated to be fully operational by the third quarter of 2025.

The Glory golf course is one of 13 approved in the Thai Nguyen provincial plan for the 2021-2030 period, with a vision extending to 2050.

Thai Nguyen currently lacks any standard golf course. As per the provincial blueprint, besides Glory, Pho Yen will welcome yet more golf courses in the near future, in the Dai Tu district of Thai Nguyen city, and in Song Cong city's Phu Binh and Dong Hy districts.

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By Nhat Minh

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