Resort village for Danang beach

Danang Investment Promotion Centre officials said Wimberly Allison Tong & Goo (WATG) is working with local authorities to map out a plan that, if approved, would be a catalyst for foreign investment to flow into the area.
The development is slated for an area 10 minutes drive from city’s centre.
Centre director Lam Quang Minh said WATG, which is working with the Bahamas-registered Magnum Investment to develop a $24 million Vegas Beach Club & Resort in Non Nuoc, was revising the master plan to suit local authorities’ requests.
Minh said the draft master plan featured bold ideas about development of the Non Nuoc area with world-class resorts and entertainment facilities. One of the key characteristics was the construction of a shopping boulevard from Han River to Non Nuoc beach to sell famous brands such as Gucci or Louis Vuitton.
“This idea is serious and it is a long-term strategy,” Minh said. “Implementing it will be difficult but it will surely bring great benefits.”
He quoted the foreign masterplanners as saying that now was the time for the city to work out such a plan because there were just a few developments in the areas and the population was small.
He said Magnum management wanted WATG to help with the masterplan for the area so that more foreign investors would come to build hotels and make the destination well-known around the world. That would eventually benefit Magnum’s business.
The planned area stretches four kilometres from the five-star Furama Resort to the Vegas Beach Club & Resort which is under construction now. The area boasts some of the most beautiful beaches in Vietnam and sits alongside the majestic Marble Mountains.
Minh said the municipal authorities have given an in-principle nod to the masterplan but asked for more revisions to suit the local conditions. He did not detail what the revisions were.
Asked whether there was a danger of a repeat of the problems that saw the BBI Group plan a $248 million resort in Non Nuoc which then collapsed due to a financial shortfall, Minh said WATG was well-known worldwide and its reputation would bring big hotel investors to Danang.
He said if the masterplan was approved, the design company and Magnum would help the city to organise an international conference in the next few months to lure prestigious foreign investors to build high-end hotels and resorts in the area.
Magnum executives were not available for comment when Vietnam Investment Review contacted the company last week.
The Vegas Beach Club & Resort is to be a high-end resort that, when complete, would feature a villa and hotel complex and other associated facilities such as restaurants, souvenir shops and entertainment area.
Magnum initially tabled a $7.5-million hotel project but it then decided to up the ante on its investment to build a larger resort.
Danang Tourism Department director Luong Minh Sam said tourism development along Danang’s coast line was one of the key strategies of the city which is trying to attract foreign investors by building roads and other infrastructure.
The government has backed the city’s development. Two weeks ago, it approved a $75-million plan to extend Danang airport. It urged civil aviation authorities to build a new terminal with annual capacity of two million passengers that is planned to be completed in 2007.
Construction of another terminal would be finished in 2010 to bring the airport’s total capacity to four million passengers annually.
At present, the airport serves international flights from Bangkok, Hong Kong, Siem Riep, and Taipei, in addition to domestic flights from Hanoi, Ho Chi Minh City and Nha Trang. Plans are in the pipeline for international flights from Japan, South Korea and Singapore.
Danang is the gateway to three World Heritage Sites in Vietnam: Hoi An ancient town, My Son towers complex and Hue Imperial City.
At present, Furama is the only five-star resort in Danang. However, the city has seen renewed interest from investors with a domestic joint venture building a 17-hectare four-star resort complex at Non Nuoc beach with total investment of $7 million.
In addition to the Vegas Beach Club, Hong Kong investors are building the $27.5-million Majestic Riverview hotel in Tran Phu street. A Singaporean firm also plans to develop a $30-million resort next to the Furama.