Uncertainty covers the involvement of SJM Holdings in a $6 billion project in Binh Dinh

June 23, 2021 | 22:04
Hung Thinh Corporation, the developer of Hai Giang Merry Land Quy Nhon, the largest tourism complex in the central province of Binh Dinh, has rejected the news that Macau’s leading entertainment SJM Holdings Limited was proposing to participate in this project.

Hung Thinh Corporation, the developer of Hai Giang Merry Land Quy Nhon, the largest tourism complex in Binh Dinh province, has rejected the news that Macau’s leading entertainment SJM Holdings Limited was proposing to participate in this project.

Answering questions raised by VIR on this issue, Truong Van Viet, vice chairman of Hung Thinh Corporation confirmed that Hung Thinh so far has not yet any direct contact, meeting, or signing any agreement with SJM Holdings Limited on the involvement in this project.

Viet added that the company is now developing the Hai Giang Merry Land located in Quy Nhon city and it is now calling other partners to co-develop this project.

“With the large scale and potential of the Merry Land project, it is now interested by many large-scale foreign partners. Hung Thinh Corporation is opening up the cooperation opportunities for any feasible partners to go with us in this project,” Viet said.

Due to the COVID-19 pandemic, only foreign partners with offices in Vietnam can reach Hung Thinh to discuss the cooperation. Other significant partners have to wait for the re-opening air routes to visit and negotiate for the cooperation directly, he added.

Hai Giang Merry Land Quy Nhon invested by Hung Thinh Corporation covers an area of 623.7 hectares. Hung Thinh Corporation is now implementing many large-scale components of this project.

Macau casino SJM Holdings rejected the involvement in a $5 billion project in Binh Dinh province
Hai Giang Merry Land Quy Nhon invested by Hung Thinh Corporation covers an area of 623.7 hectares in Binh Dinh

In May 2021, Binh Dinh People’s Committee sent a document to the prime minister, expressed SJM’s desire to have a casino and tourism complex in Binh Dinh province in cooperation with a domestic developer.

The committee then committed to supporting SJM to find out a feasible location and get the opinion from the government, the prime minister and related bodies about this project.

The local committee also introduced Hai Giang Marry Land of Hung Thinh Corporation to be considered for this cooperation.

In the past time, Binh Dinh and SJM Holdings Limited have regularly exchanged and connected to discuss survey solutions and work with related parties on this cooperation plan. However, due to the complicated situation of the covid-19 epidemic, the foreign side has not yet sent a team to Vietnam to survey the site in the province.

SJM Holdings Limited is a leading owner, operator and developer of casinos and integrated entertainment resorts in Macau. It owns and operates the Grand Lisboa hotel and casino, as well as 18 other casinos located in prime locations on the Macau and Taipa.

By Bich Ngoc

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