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Tony Milton MRICS

BSc (Hons) Est Man

Monday, 16 March 2009




Vietnam now has 16 opera­tional golf courses, compared to 255 in Thailand, some 200 in Malaysia and 2,500 in Japan. Golfers are concentrated in the north and the south with an estimated 1,500 living in Hanoi and some 4,500 in Ho Chi Minh City. According to Asian Golfers Association, Korean golfers are the most frequent players in Vietnam with 45% followed by Japanese at 25%. Vietnamese players account for only 10%.




  1. Vietnam Golf & Country Club in HCMC


  1. Long Thanh Golf Club & Residential Es­tate in Dong Nai


  1. Song Be Golf Resort in Binh Duong


  1. Ocean Dunes Golf Club in Binh Thuan


  1. Paradise Golf Club & Beach Resort in Vung Tau


  1. Dalat Palace Golf Club in Da Lat


  1. Kings' Island Golf Resort & Country Club in Ha Tay


  1. Chi Linh Star Golf & Country Club in Hai Duong


  1. Hanoi Golf Club in Hanoi


  1. Tam Dao Golf Resort in Vinh Phuc



However, there are over 28 additional golf projects under construction. The American professional di­rector of golf for both Dalat Palace & Ocean Dunes Phan Thiet golf clubs said “I don't think anyone - even hardcore golfers with an interna­tional scope - have any idea on how good the golf is here in Vietnam. People understand that Vietnam's economy is booming but what most people don't yet recognize is that the caliber of golf in Vietnam is world class.” Data from the prepara­tory board for the Vietnam Golf Association show that there are 6,000 golfers in Vietnam including 2,000 expatriates. The situation is similar to that of tennis 10 years ago. Guests go to a golf course not only to play golf but also for entertainment and relaxation. Therefore, tour­ists are the main target of golf course operators. In the future, golf courses in Viet­nam will be connected with resorts or villas, and most of their customers will be for­eigners. After being li­censed, an official with East Asia Air Express told the press that the construction of its Vietnam golf course was aimed at its regular cus­tomers. The company has two golf courses in China, but they have to be closed in winter. The golf course in Vietnam will serve its mem­bers even in the colder weather. Another reason for foreign investors to flock to Vietnam to build golf courses is investment poli­cies. It is reported that Ma­laysia has restricted licens­ing golf investment projects for fear of a bad impact on the environment. In addi­tion, by investing around US$10 million, a golf course developer can possess an area of up to hundreds of hectares. Investment in building golf courses is bustling, at­tracting more and more new investors. So in this regional competition Vietnam appears to be on track for success. Thailand has more than 200 golf courses attracting millions of golf tourists each year.



The number of golf courses which are already operational, now under construction or have applied for licenses now totals 123, according to reports from 51 out of 64 provinces and cities. These golf courses cover 38,445 hectares of land, over 15,000 hectares of which were used for agriculture. The southeast has 36 golf courses, the nation's highest concentration.



By mid-2008, Vitenam had 141 projects with golf courses licensed in 39 provinces and cities. The golf projects have a total area of 38,445 hectares, including 15,264 hectares of farm land. HCM City had the most projects, with 13, followed by Ba Ria-Vung Tau (12), Hanoi (10), Lam Dong (10), Binh Duong (4), Dong Nai (4) and Long An (3).



There are 14 golf course providing roughly 5,760 jobs at an average of 411 per club.





Ho Chi Minh City



HCMC now has 6 approved golf courses and 7 others waiting for the thumbs up with 1,262 hectares covering parts of Districts 2, 9, Go Vap, Binh Chanh, Cu Chi and Tan Binh. The 300ha Thu Duc golf course, the first kind in the city, has now created nearly 1,000 jobs in the projected area. In mid-2008, HCMC temporarily suspended the issuance of new golf course licences. The city cur­rently has licensed 6 golf courses in districts 2, 9, Tan Binh, Binh Chanh and Cu Chi. However, only one course in District 9 is cur­rently operating.



In mid-2008 HCM City's Department of Planning and Investment rejected a 350 hectare golf project proposed by Richfield Co Ltd in Hoc Mon District's Thoi Tam Thon and Dong Thanh communes; golf projects in Can Gio’s Binh Khanh Commune; and another in Binh Chanh. The city is now home to one golf course in District 9 and 5 others have received licenses. Under a master zoning plan 13 golf courses will be built in the city's outskirts through 2010.



-        The HCMC Department of Zoning and Architecture has passed to the city government a draft land zoning plan for golf courses in the wake of rising investment in this sector, with a golf course probably re­quired to cover at least 80 hectares. The department's land zon­ing for golf courses is due to the fact that the Ministry of Construction has yet to issue any regulations governing golf course development. Department director Nguyen Trong Hoa said new golf courses should be devel­oped together with develop­ment of infrastructure and other service facilities such as airports, and commercial and financial centers, and with environmental protection. New golf courses should be built on farmland or in buffer zones between indus­trial parks and new residen­tial areas. Hoa said the department had proposed locations for 13 golf projects in the city, in­cluding the operational Thu Duc Golf and Country Club in Thu Duc District. A US$42.6 million golf resort developed by Korea's GS Engineering & Construction in Cu Chi Dis­trict was licensed in March. The plan is envisaged de­veloping only one inner-city golf course; that is the Tan Son Nhat Golf project in Tan Binh District to be developed by Truong An Co. The remaining 10 are planned to go up on the outskirts, including two in Dis­trict 2, one in each of District 9 and Thu Duc District in the east, two in Binh Chanh Dis­trict in the west, and three in Nha Be and Can Gio districts in the south, and one in Cu Chi in the north. An official of the HCMC People's Committee said golf projects had contributed sig­nificantly to the increased foreign investment in the city. New projects are also ex­pected to help improve the quality of golf services and other related services, such as hotels and restaurants.



-        In mid 2007 the Prime Minister Nguyen gave permission for the construction of a 162.3 hectare golf course at Tan Son Nhat adjacent to the international airport in Tan Binh.



-        In mid 2007, South Korea's Hyoil received a licence to build a 36 hole golf course and resort in the Cuu Long / Mekong Delta province of Long An, adjacent to HCMC. The $58 million complex will begin construction in June 2008 in My Phu Commune, Thu Thua District and the 1st Phase of the project is expected to be completed in 2010, with the entire 280 hectare complex slated for completion by 2015.



-        In mid 2007, the Long Thanh Golf Club situated on a hill of more than 350 hectares near the Dong Nai River, opened 9 more holes putting the total at 36 holes. The club is about 45 minutes from HCMC by car and completed the first stage of the international standard golf course at a cost of USD$37.3 million. The next 36 holes for the 2nd stage will be finished in 2013, complete with a 5 star re­sort and 1,000 villas located in areas of hills and waterways.



-        In mid 2007 Kumho Engineer­ing and Construction Co of South Korea and Quyet Thanh Corp signed a joint venture con­tract to build a golf course and housing complex. The USD$150 million complex will cover 156 hectares in District 9, about 20km from the city cen­tre. Located on the banks of Tac Canal, Kumho Asiana will be the nearest golf course to a metropolitan area. The Korean company is con­tributing 80% of the capi­tal to build Kumho Asiana, while the Vietnamese partner contributes the remaining 20%. According to the plan of world-famous golf course de­signer Jack Nicklaus Design, Kumho Asiana will include a 27­ hole golf course, a clubhouse and 340 villas and condomini­ums, as well as a fitness centre and swimming pools. Con­struction of the project will start next year and be completed by 2010.



-          At the end of 2007 the Saigon Devel­opment & Investment Corp (SDI) instructed the US headquartered Great White Shark Enterprises Inc to de­sign its new 18 hole golf course at the Saigon Golf & Country Club and Residences (SGCC) project in District 2 cov­ering 137 hectares and located approximately only 7 kilometers from the heart of HCMC. Greg Norman is the chairman and chief executive officer of the multi­national corporation. SDI also planned to include full coun­try club facilities in the golf course including a driving range, tennis courts, an Olympic-size lap pool, res­taurants, gym, function and conference facilities, a first­ class hotel, City Spas and luxury apartments for sale and lease with a total investment capital of USD$250 million.



-          In mid-2008, the Vietnam Waste Solutions Company (VSW) announced plans for a golf project on Dong Thanh rubbish dump site in Hoc Mon. The company was seeking permission to build Saigon Village Country Club with an 18 hole golf course on the 115 hectare site that was closed several years ago but still has some 2 million tons of waste



-          In mid-2008, South Korea’s Gold Bridge Financial Group and HCMC's Si Cat Real Estate Investment & Trade JSC announced plans for 2 golf projects in Binh Chanh District and District 9’s Long Phuoc Ward.



-          According to a report from HCMC's De­partment of Planning and In­vestment, golf course projects are carried out at a snail's pace and cause a waste of land, adding that 6 of the 7 licensed golf course projects by early 2009 had remain unfinished, with 5 still mired in the land compensation / site clearance stage. These licensed golf course projects are located on 725ha in Cu Chi, Tan Binh, Binh Chanh, Thu Duc, and Districts 2 &. 9 with 5 for­eign invested. In 2001-­2006 a project developing an 18 hole course in District 2's An Phu Ward by Sai Gon Investment and Develop­ment Company on 25.6he of land had been compensated of 137.44ha allo­cated for the project and the Sing-Viet Golf Course project, by the Sing­Viet Urban Company Ltd made no progress in 10 years. The project was li­censed in 1999 to build a 160 ha urban area, a 70 ha golf course and a 69 ha horse race track. The investors contrib­uted only 5% of the total invest­ment of USD$120 million. The DPI report says that only 1 golf course of the 7 li­censed courses in HCM City is operational but gained little or no profit. Statistics from Hoa Viet Joint Venture, the company operat­ing the course, reveals that be­tween 1994 and 2007, the firm attained a total turnover of over USD$57 mil­lion but an accumulative loss of nearly USD$1 million. According to figures from the website net, there are about 5,000 golf players across the country and only 10% of the 2,000 permanent golf players are Vietnamese. Golf courses across the coun­try have contributed very little to the State coffers and have created quite a small number of employment opportunities for local labourers. "These golf courses have just served high-income residents while the local community ben­efits very little from these sport facilities." Under such a situation, the DPI has, asked the HCM City People's Committee to recon­sider the number of golf courses to be licensed, the benefits these projects could bring in to investors and the community, as well as the zoning plan for golf courses in the city. The DPI also proposed that the licences of golf course projects whose construction hasn't made any progress due to investors' financial problems be revoked.



Long An



By the end of 2007 the province had scheduled a total of 18 golf courses, some 2 more than then existed in the entire country. The People's Committee had licensed 13 new golf courses and received investment applications for 5 others, with 4 courses covering 1,555 hectares licensed for Long Hau Commune alone. If these projects are approved the 18 golf courses will take some 9,500 hectares and thousands of local residents will become landless farmers.



-        The province have said 9 investors were looking at golf and tourism blueprints but it was unclear whether the province had sufficient room to accommodate all the projects, most of which require 150 to 200 hectares each. Some 4 of the projects come from South Korea: Hyoil; DM Lee; Genuwin D&C; and the Viet-Han JSC, while the rest are backed by domestic investors. Hyoil was the first firm to be granted an investment licence for a USD$58 mil­lion, 36 hole golf course and resort in Thu Thua district's My Phu com­mune and the 1st Phase should be completed by 2010, with the entire 280 hectare complex slated for completion in 2015. DM Lee Company want to build a golf course, villas, hotel and restaurants on a 300 hectare site in Can Giuoc district, while Genuwin D&C want to build a golf course complex on 337 hectares in Thu Thua dis­trict, and the Phu Quang New Residential Area JSC want to build a residential area in Phuoc Lai district.



In early 2008 7 out of 12 golf projects were cancelled by investors who wanted to switch to developing residential areas, com­mercial centers and service facilities.



In late 2008, the People’s Committee announced that it would only allow 1 golf course project out of 3 already approved.


-           The HCMC based company BB Dai Minh is developing the Golden Palm Premier Golf Community covering some 260 hectares, and include luxury residential and commercial commu­nity facilities with an 18 hole golf course, villas, apartments and re­tailers.



Hau Giang



-        The master plan for the 3,320 hectare Song Hau Industrial Town zones some 1,800 hectares for industrial production, 800 hectares for urban development, 74hectares for trade-tourism-service facilities and 110 hectares for a golf course.



Tay Ninh



-        In mid 2007, the Cambodian CVI Resort Ltd requested permission to build a golf course at Moc Bai border gate between Viet Nam and Cambodia. The project is part of the co-operative framework on social economic development between the neighbouring provinces oh Viet Nam's Tay Ninh and Cambodia's Svay. Under the plan, the golf course will cover an area of 120 hectares with half each to be located in Viet Nam and Cambodia. The golf course will consist of a park. 18 hole course, hotels, restaurants, and tax free shops.



Binh Duong



-        Vincom plans to develop a USD$93.75 million golf course and eco-tourism resort at a cost of USD$250 million in Long Bien, close to the proposed new HCMC International Airport.



-         In mid-2007 the Phu My De­velopment Joint Stock Company started work on a golf course and resort complex worth USD$250 million. Phu My is a 65:35 joint ven­ture between South Korea's Electro Land Co Ltd and Binh Duong Production Trading Company (Protrade). The 27 hole Twin Doves Golf CIub and Resort will cover 165 hectares in the 4,200 hect­are Binh Duong Industrial ­Service Urban Complex in Phu My Commune, Thu Dau Mot Town. The project will include deluxe facilities, such as ho­tel, convention center, 192 villas, 1,443 apartments, com­mercial offices and an interna­tional school. The project will be imple­mented in 3 phases, with the 1st one for the Golf Club. The golf course is designed by South Korea's Orange Engineering. A 5 star hotel will fol­low the development of the golf club. Twin Doves Golf & Resort may be regarded as a small city within a city as it is com­prised of sports, education, entertainment, and residential properties. The Vietnamese partner has developed the Song Be Golf Course in Binh Duong while its partner has built a golf course in South Korea.



-          In mid-2008, the province proposed the central Government to allow build­ing a 200 hectare golf course on Tha La Peninsula in Dinh Thanh Commune in Dau Tieng District, which is part of Dau Tieng Lake.



Dong Nai



In Dong Nai province Green Club Limited Company will develop a 250 hectare eco-tourism zone, including a 110 hectare golf course in Long Tan com­mune, Nhon Trach district. Phu Gia Development Investment Joint Stock Company will build a 643 hectare industrial, urban and resi­dential zone with a golf course in Phuoc Binh com­mune, Long Thanh district. A 130 hectare eco-tourism zone including a golf course is also to be built in Dai Phuoc commune, Nhon Trach district by Tin Nghia One Member Limited Com­pany. The southern province currently has 2 courses in Long Thanh and Song May, covering 560 hectares. Two other courses have also been granted licences and are under construction.



-         The Tin Nghia Company is working the a USD$284 million high end Tan Van Compound 30 kilometres from Ho Chi Minh City. The project enjoys a key location between the fast developing localities of Dong Nai, Ho Chi Minh City and Binh Duong and was an agricultural island next to Dong Nai River and National High­way 1. An 18 hole golf course, clubhouse, service apartment and commercial office, hotel and convention centre and a sports and entertainment complex will take shape on 45.24 hectares. The first phase includes an infrastructure system and a golf course invested with about USD$40 million.



-          A USD$35 million 18 hole golf course licenced to Korean investred Jeongsan Vina in 2007.



-          DIC Group and a Korean investor plan to develop an 18­ hole golf course next to the Dai Phuoc Lotus urban complex.



Binh Thanh



-          The first nine holes of the 18 hole Sea Links golf course in Mui Ne opened in mid 2008. The Sea Links Phan Thiet is the first to be built on sand dunes overlooking the sea of Ham Tien-Mui Ne area, about 10 km from the heart of Phan Thiet City. Currently. The sand-based Sea Links golf course is part of a mammoth sport and resort complex by the pri­vate company Rang Dong with an investment of around USD$25 million. The 162 hectares also includes 297 villas, a 5 star hotel, swimming pools, tennis courts, restaurants, and other service and entertainment facilities.



-          The Ocean Dunes course is located in Phan Thiet City and owned and operated by Danao International Holdings. This links course has garnered worldwide acclaim for its windswept dunes and singular holes.



-         The Hop Long Trade & Investment JSC plans to develop a 36 hole golf course resort with half of holes for public golfers by Nhum Stream.



-         The South Fork Twin Capes development is sit­uated in Binh Thuan province's Phan Thiet and will comprise two 18 hole golf courses, villas and a 6,000 seat conference centre. The aim is to transform Phan Thiet into a world class resort, attracting 'five-star visitors', from around the world. Big US names are thought to be backing the investment in South Fork Twin Capes, to the tune of USD$1 billion. However, the development has faced a series of setbacks since it received an investment licence in November 2001 as well as criticism from the Vietnamese FDI Management Authority for delays.



-         In late 2007 the province granted an investment certificate to S.I Development Company, a joint venture between the Sai Gon Investment Company and Seung-IL to build the complex in the Mui Ne district of Phan Thiet City. The project is expected to cover 181 hectares with investment capital of USD$34.5 million, including a golf course, a luxury resort and other tourist facilities.



Ba Ria – Vung Tau



-          Foreign and domestic investors are applying to develop 6 golf course projects but so far, the province has only given approved in principle to one Korean invested tourist and golf complex project in Chau Duc District.



-          In early 2008 the DIC Sports, a member of DIC Group, inaugurated the Chi Linh Golf Club at Chi Linh Area on Ba Thang Hai in Vung Tau City. The first project of DIC Sports capitalized at USD$535,000 com­prises of a golf driving range, a bar, a business center and a sport shop. It costs US$700 for one-year membership, US$420 for six months and US$85 a month. DIC Sports are seeking licenses for setting up 2 golf courses and an eco-tourism site in the province.



-          In mid-2008, Canada’s Asia Coast Development started work on a USD$4.23 billion resort called the Ho Tram Strip that will comprise 5No. 5 star hotels with a total of 9,000 rooms, 5 commercial centres, 5 international conference centres, 5 theatres, 8 cinemas, and a golf course, plus numerous entertainment facilities, apartments and villas. The championship golf course is part of the 1st Phase and is being designed by PGA legend Greg Norman as part of a Las Vegas-style gambling centre. The 169 hectare Ho Tram Strip is being designed by Steelman Partners, a Las Vegas architecture firm.



Kien Giang



In mid-2008, the Saigon Construction Trade Investment Company secured approval for a tourism and golf course project at Bai Vong beach in Ham Ninh Commune of Phu Quoc covering some 570 hectares and including a resort, a sports area, a tourism wharf, and other auxiliary constructions. This will be the 3rd of only 4 golf courses licenced on the island with the others being to Starbay Vietnam and SaigonTourist Holding Company. The last project of 4 will be developed at Ong Lang beach.






Ha Noi



The year 2007 saw the launch of a number of large construction projects including : -



-         The Long Bien golf course and leisure complex by Vincom with an initial investment capital of USD$93.75 million and covering 50O hectares of land between the Vinh Tuy and Thanh Tri bridges. In addition to the 36 hole golf course, Vincom plans to build a tourist resort and leisure complex. The Ha Noi's People's Com­mittee are making available 42 hectares of land which was earmarked for the replanting of trees.



-         BITEXCO’s plans to build a golf course and tourist village just over 10 km from central Hanoi in Thanh Tri district. The 36 hole golf course and holi­day village will cover an area of 750 hectares with the golf courses covering between 190 hectares and 296 hectares.



-         Japan’s RIVIERA Group’s pland to build a 5 star hotel and golf courses in Dong Anh and in Xuan Thu commune in Tri Thanh Oai district in Thanh Tri Province. Land for the Tam Dao golf course was bought for USD$1,000 a square metre and annual membership will cost as much as USD$20,000.



-        In early 2007 the Hanoi People's Committee wrote to the Noble Vietnam joint venture telling them to find the investment capital for the 1st Phase of the Van Tri golf project. The Vietnamese partner with 30% - Hanel - Hanoi Electronics. Noble inherited the project from South Korea's Daewoo Corporation, which was licensed in 1993 to develop the USD$14.5 million Kim No Golf Complex including an I8 hole golf course and 215 villas for lease. The government approved an idle 128 hectare site including 93 hectares of agricultural land and 35 hectares of water surface in Kim No Commune near the Than, Long-Noi Bai Highway, close to Thang Long Industrial Park.



-          In mid-2008, plans were announced for a USD$3 billion eco-tourism com­plex on the Ca Lo river in Dong Anh and Soc Son districts, 15 kilome­tres from Hanoi by the Vietnam Star Group Joint Stock Company (VSG) and the Swiss based Tradco Glob­al Engineering and Construc­tion S.A. The resort will include a 250 room 6 star hotel, resort, villas and apartments. Housed on a 500 hectare plot, the entire area will involve the Bac Hong commune of Dong Anh district and Phu Minh and Phu Cuong of Soc Son district. The project will be divided into 4 phases. One-third of the land will be developed for real estate while the rest will be reserved for public facilities such as sports, transport, parking, trading and com­mune activities. Four and five-star hotels will be linked with residen­tial and trading centres. In the first phase, the 6 star hotel, an 18 hole golf course, water park and mod­ern villas will be realised.



Hoa Binh



-         In early 2007 South Korea's Mibaek Haiphong Company Ltd got permission to invest USD$27.3 million in a 50 year project called the "Gia River Resort Complex" on 118 hectares of land in Thuy Nguyen district of Haiphong City into a USD$6.3 million 27 hole golf course with a golf practising area and a club house as part of a larger 3 Phase plan to 2020 to develop a golf complex worth USD$300 million. Hana, South Korea’s 3rd largest bank will finance this project.



-        Korea’s East Asia Air Express has invested USD$20 million in developing the 1st Phase of a 54 hole golf course and entertainment complex on 300 hectares including villas for lease.



-        South Korea’s Charmvit Corp is developing the 54 hole USD$30 million Dragon Phoenix Mountain golf course and a 5 star hotel with 200 rooms in Luong Son District which covering 311 hectares and 18 holes. The 1st Phase is operational.



-          In mid-2008 a USD$18.7 million 36 hole golf course and a sport and entertainment complex project licenced to AVE Joint Stock Compa­ny covering 148 hectares in Dong Tam Com­mune in Lac Thuy District was suspended after it chopped down some 10 hectares of protected forest and leveled ground although it had not obtained a license. The golf course is located by Dong Tam lake and surrounded by tropical forests and mountains.



Ninh Binh



-          Developer PV Inconess has announced that it plans to pump USD$187 million into 2 high end resort projects : The Yen Thang 54 hole Golf Course and the adjacent Dong Thai Lake Eco-Tour­ism Complex about 100km south of Ha Noi. The first 18 hole phase of the Yen Thang Golf Course is expected to be completed in the middle of 2008 while the second phase is scheduled for completion in 2015. Meanwhile, the Dong Thai Lake high-end Eco-Tourism Complex, which will occupy an area of 2, I00 sqm, will ini­tially comprise a 300 unit 5 star resort. The second phase will in­clude more hotels, a cultural village, a convention centre and a residential area.


Nghe An



-        in mid-2007, the Golf Bien Cua Lo resort complex got underway. Viet Kieu are the main investors in the USD$94 million project which will be the province's biggest tourism project covering 120 hectares. The complex includes an 18 hole golf course, a 5 star hotel with 430 rooms, a 3 star hotel with 320 rooms, a conference centre, 284 villas, tennis courts, a swimming pool and entertainment area. During the 1st Phase of construction the golf course, 120 luxury villas, tennis courts and swimming pools will be built. The complex is being built under the design and management of IMG Worldwide USA.



Quang Ninh



-    In late 2004 some 5 Vietnamese companies announced plans to invest USD$2 billion in the "Halong Eco-tourism and Culture Urban Town.” The Saigon Quang Ninh Corporation’s holiday town will cover 5,400 hectares of Ha Long City's outskirts. The multi-stage project has 60 components, the biggest being 2 resorts, a general service area, a cinema section, an area for sports and outdoor recreation and a nature reserve. In the 1st Phase basic infrastructure will be built, concentrating on the coastline villas and resorts, a golf course a hospital and schools. The site of the project has beautiful scenery and good transport, which include a tourist drive through the hills affording panoramic views of Ha Long Bay and another to the shore of the famous bay. The 5 partners are Viet Thang Textile Trading and Production, Au Lac Quang Ninh, Saigon Tourism Construction and Trading, Phuong Hung Quang Ninh and Viet My Fish Processing. Once in place, the presence of Halong Eco-tourism and Culture Urban Town alongside the billion dollar Tuan Chau Ha Long Tourist project will forma "luxury tourist zone.”



-         Hong Kong’s Li Lai are keen to build the USD$36 million Mong Cai golf course & resort along the Chinese border with an 18 hole golf course and a 5 star 200 room hotel and villa complex on Tra Co beach. The joint venture, in which Li Lai owns a 60% stake and Li Lai Hai Ninh the remaining 40%, also has permission to build an open air entertainment centre. In 1993 Li Lai teamed up with Mong Cai Trading Company to set up the Li Lai Hai Ninh Company which invested USD$30 million in a 5 star 200 room hotel plus casino the centre of Mong Cai on the border around 250 kilometres from Halong Bay.



-         The Hong Kong owned Vinh Thuan Company want to invest US$36 million to build a resort on the Tra Ca coast of the Quang Ninh Province near the Vietnam-Chinese border including an 18-27 hole golf course and a 5 star hotel.



-         Au Lac company is developing the Tuan Chau Island overlooking the famous Ha Long Bay world heritage site. Au Lac have inked a deal with US company Andy Dye to set up the USD$1.5 billion Ha Long Bay Group joint venture with the aim of developing a number of giant golf courses and resorts across the country. The group aims to build a golf course, 740 luxury golf villas, condominiums and detached houses on an area of 250 hectares on Tuan Chau. It also is looking to develop a complex with six 18 hole golf courses in Quang Ninh province's Yen Trung Lake as well as a 400 room hotel and a golf course in Nha Trung. Under the MoU the partners will expand and refurbish - at a cost of USD$400-450 million - the Tuan Chau resort with 2No. 18 hole golf courses, a golf club, 5-6 star hotel, 640 condominiums, 300 luxury villas, 50 estate lots (for billionaires and international figures), marina and yacht club, helicopter pad, underwater adventure sports areas.



-          Au Lac and Andy Dye are also planning to develop the 1,000 hectare Yen Trung complex will cover 6 international standard golf courses (108 holes) and a golf club and 2,000-2,500 luxury villas and 300 condominiums.



-          In late-2007 the province approved the devel­opment of a 300 hectare tourism complex worth USD$112 million in the Van Don Economic Zone. The JV will develop the luxury tourism complex which includes a 27 hole golf course, a 15 floor 5 star hotel, villas for rent, resort area, and an outdoor concert area, among others. The investor, a Vietnam-U.S. joint ven­ture, is also seeking permission from the Prime Minister to build a casino section.



Ha Tay



-         DK ENC and Kim's Development want to in a 36 hole golf course in Van Son commune, Chuong My District in Ha Tay, in the form of a wholly foreign invested entity called Sky Lake Golf and Resort Club worth USD$22 million. Kim's Development will provide 92.4% of the course's legal investment capital. The course will be located on a 200 hectare site and have other recreational facilities, including villas and restaurants. Their 2nd golf project will be located on a 200 hectare site in Xuan Mai town of Ha Tay about 20km away from Sky Lake Golf.



-         In late 2007 King's Valley Corporation of Vietnam and its Korean partner Hanwha Group signed a USD$150 million deal to develop resorts and golf courses in Hanoi and HCMC. Hanwha is the 5th largest Korean company in terms of assets after Samsung, Hyundai, LG and SK. The Vietnamese company owns and manages the well known 36 hole King's Island Golf Club located in the northern province of Ha Tay, south of Hanoi. Kings' Island Golf Course is 100% locally owned and was the 1st 36 hole course in the north. Kings Island is 45 kilometres west of Hanoi became the first course to open in the north in 1993 and now comprises the 18 hole Mountain View course and the 18 hole Lakeside course – the 2nd 36 hole club after the Vietnam Golf and Country Club, in Ho Chi Minh City. The course plans to build a separate clubhouse for each course along with a hotel, luxury villas, tennis courts, swimming pool and sailing facilities.



Dong Mo golf course’s 18 hole Mountain View course is located to the south of the Lakeside course designed by Pacific Coast Design based on the work of famous US designer Robert McFarland. The Mountain view course is a 72 par standard course capable of attracting experienced players. The construction of the Mountain view course was the second stage in the development of Dong Mo Golf Course into a 36 hole international standard course, including a new club house and villas. The 4 storey club house provides golf players with equipment and facilities including massage and sauna services. Many other facilities are also on the drawing board including a recreation centre with pool, tennis court and park. The USD$21.5 million Dong Mo Golf Course was started in 1993 with Thailand's Kings Valley Corporation pledging USD$17.5 million to the project. The project faced bankruptcy when the Asian financial crisis of 1997 prevented the Thai partner from continuing its finance. Ngan Anh decided to buy out the Thai investor's stake in 2000 and has since invested in additional landscaping, upgrading sand traps, building roads and a new clubhouse.



-         In late 2003 Hong Kong’s European Investment Company submitted a proposal to replace Singapore's Link Quest (70%) and Hai Phong’s Quoc Oai Trading Company in a 92 hectare USD$12 million JV golf project with themselves and Hanoi’s Vietnam’s International Consulting and Investment company. The 18 hole Phu Man Golf Course was conceived in 1998 at a cost of USD$12 million and a legal capital of USD$3.9 million and licensed for 40 years.



-         At the end of 2007 the Tan Vien International JSC, an affiliate of PetroVietnam, announced plans to invest USD$160 million in an international standard tourism and recreation complex covering 2,000 hectares on 4 islands in Ba Vi District’s Suoi Hai Lake, including gardens, villas, 4No 5 star hotels, golf courses, recreation facilities and conference centres.



-          In early 2008 provincial authorities approved Global Investment & Asset Management JSC’s USD$75 million 18 ­hole golf course, villas, 5­ star hotel, hot spring centre and eco-tourism complex in Cam Quy Lake west of the Ba Vi mountain hill sta­tion and some 60km from Hanoi, 6km from the Suoi Hai Lake Tourist Park, 3km from Bang Ta-Dam Long primeval forest and 7km from Da River. The 254 hectare complex will feature around 200No. 5 ­star hotel rooms and entertain­ment facilities.



-         In early 2008 the Tuan Chau Ha Tay JSC broke ground on a 18 hole golf course and residential complex in Quoc Oai District.


Hai Duong



-        The 324 hectare Chi Linh Star Golf & Country Club in Hai Duong province is 120 kilometres from Hanoi and located on the site of the USD$22.1 million Royal Etoile Golf Club project, abandoned by British Virgin Islands-registered Gateway Development. Total investment in the club is estimated to be USD$40 million. The Chi Linh Star Golf course is planning to become a 36 hole course with 300 villas and a 5 star hotel.



Vinh Phuc



-        The USD$30 million Tan Phu fizzled out after the 1997 recession and was terminated in 2003.



-        The Tam Dao Golf and Resort complex is located on 136 hectares about 65 km north west of Hanoi. The golf course and resort is also close to the Tam Dao National Park which is a popular tourist destination just 70 minutes drive from the capital. The Tam Dao golf course was formerly known as the Toyo Landic project, a joint venture between Japan's Toyo Landic and the Vinh Phuc Tourism Company. Toyo Landic was licensed in 1996 when the Japanese partner planned to invest USD$15 million in an 18 hole golf course. The golf course in Tam Dao District is designed by the US based IMG and will add a new stop on the itinerary of golfers and tourists in the area alongside such landmarks as the Tam Dao and Tay Thien tourist sites, Dai Lai Lake and the Vac Lagoon resort. The domestically invested Tam Dao Golf Course and Resort was built at a cost of USD$25 million, half of which went on the golf course and the remainder on the construction of a resort and villas, as well as recreational facilities including 2 swimming pools and 3 tennis courts. The entire facility covers 136 hectares in Hop Chau Commune, about 10 kilometres from the popular Tam Dao tourist site. The 1st Phase of construction cost an estimated USD$10 million. The project developer, the Tam Dao Joint Stock Investment Company, is comprised of the state-run Hanoi Housing and Urban Development Corporation and Construction Company No. 4, and the privately run Truong Tien Company.



-        Dai Lai Vietnam Company became the developer of the USD$40 million 350 hectare 36 hole Tan Phu course after the Taiwanese Paper and Pulp Company’s licence was withdrawn and ownership of the course passed to the Dai Lai Vietnam Company by the Dai Lai river.



Hai Phong



-         In 2005 Ngan Anh Trading and Tourism Company - a major stakeholder in the 36 hole Kings' Island golf course in Ha Tay province and local JV partners of the long delayed Do Son golf club - announced that there would revive the 18 hole golf course, commercial & urban centre and tourist complex covering 248 hectares at a cost of USD$24.8 million. It is the site of where a USD$35.7 million foreign invested 36 hole golf course was planned.



-          In early 2009, Goindwal Industrial and Investment Corp received approval to build an 18 hole golf course on Cat Ba Island's Xuan Dam District. The golf course, the first on an island of Vietnam and part of the island's Venus­ Cat Ba tourism financial complex, is worth nearly US$600 million.



Lang Son



-         Close to the Chinese border a USD$38 million hotel and golf facility in Lang Son province is to be built.



Bac Giang



-        The Taiwanese Foxconn Group will develop the 960 hectare Van Trung industrial and new urban complex with the IZ occupying an area of 500 hectares and 200 hectares used for an urban area and service complex, and a golf course on the remaining land. Van Trung IZ will also be added to a list of IPs to be establish by 2015. Moreover, Foxconn has registered with the ministry its intention to invest roughly US$5 billion elsewhere in Vietnam.



Phu Tho



-         In late 2008 the Viet Han Trading Advertising Con­struction Real Estate Compa­ny (Viet Han) announced plans for a USD$1.4 billion tourism project com­prising a horse racing track and a high-rise sports complex. The Tam Nong Urban Tourism and Sport Complex project will be located in Tam Nong district 70 kilome­tres west of Hanoi. The project will cover 2,000 hectares and be northern Vietnam's biggest tourism project, comprising villas, a 36 hole-golf course, recreation centre and sport complex. Phu Tho is a mountainous province on the Haiphong-Hanoi-Kunming (China) economic axis.


Last Updated ( Friday, 27 March 2009 )
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