Resort aims to offer respite from city life

Away from it all: Flamingo Resort would offer 300 villas for sale

The Flamingo Resort would feature a string of villas for sale, a five-star resort and entertainment facilities in Dai Lai lake, located 10 kilometres from Noi Bai airport and 40km from downtown Hanoi.
Hung Vuong Construction, Investment and International Co-operation Company will bring new services, including a spa centre, heated swimming pool, stilt houses and a conference room, into operation by mid-2005.
The company would build 300 villas for sale, as well as shopping centres, a post office, kindergarten, cinema and swimming pools overlooking several artificial lakes.
Hung Vuong is also calling for foreign investors to join the development to build a five-star 200-room hotel, projected to cost $40 million, a 100-villa complex for sale at an estimated investment of $20 million, a $10 million VIP Club, and $3 million recreation area.
“It is an ideal place to put your money,” said Le Quoc Viet, project sales manager.
Viet said investors would not have to bear extra costs such as compensation and resettlement, a thorny issue that foreign investors often encounter in Vietnam, as Hung Vuong has already cleared the site.
Potential investors could lease land from Hung Vuong, which would spend almost $20 million on roads, electricity, water supply and telecommunications centres for the 115 hectare lakeside area.
“Everything is ready for investors to build properties,” said Viet.
He said the company would assist investors with 50-year land leases and a one-year income tax exemption with a 40 per cent reduction for the following four years.
The company has obtained a licence to operate a casino in the hotel complex that is projected to cost $5 million.
Viet said the project enjoyed a prime location near the bustling economic zones of Hanoi and Vinh Phuc province, with more than 10 industrial parks in the surrounding that host large global companies such as Canon, Toyota and Honda.
He said the proposed five-star hotel would provide accommodation for people working or doing business at these industrial parks who currently have to stay in Hanoi.
Viet said residents and visitors could benefit from entertainment facilities in the complex and nearby properties. The complex is located next to a proposed 36-hole golf course that is scheduled for construction by a local company next year.
Two other golf courses are under construction a few minutes drive away: one by Japanese investors in Soc Son district, and one by Thai developers in Dong Anh district, both in Hanoi.
In addition to Hung Vuong, several companies are eyeing Vinh Phuc as promising venue for tourism and entertainment developments with an aim to attracting weekend holiday makers and expatriates in Hanoi.
A golf resort is now under construction in Tam Dao mountain, 30 kms from Dai Lai lake. The resort is designed to have an 18-hole golf course and 175 villas.