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Tony Milton MRICS

BSc (Hons) Est Man
MRICS
APREA (CREIF)

Tourism - North
Monday, 16 March 2009

 

NORTH VIETNAM                         

Quang Ninh

 

 

Highlights

 

Ha Long Bay – Halong Bay covers 1,553 square kilometres and is home to 1,969 islands, with 775 of them have been recognised by UNESCO as a world heritage site due to cultural, aesthetic, bio-geological and economic values. Halong Bay has also been entered in a competition lo become one pf the 7 Natural Wonders of the World. Ha Long Bay, the major attraction of Quang Ninh's tourism, was recognised by UNESCO in 1994 as a World Heritage Site and in mid 2003 become a member of the Most Beautiful Bays in the World Club which was es­tablished in Berlin in March 1997, and supports sustainable development in some of the world's most dramatic topog­raphy. “Beauty alone does not guarantee membership. Po­tential members must dem­onstrate commitments to protecting their privileged patrimony for the enjoyment of future generations, as well as be willing to share knowl­edge and experience with others facing similar chal­lenges.” Situated in the Gulf of Tonkin, Halong Bay borders Cat Ba Island in the south­west, the East Sea in the east, and the mainland, creating a 120 km coastline. The picturesque bay is made up of 1,969 islands of various sizes, 989 of which have been given names. There are two kinds of island, limestone and schist, which are concentrated in two main zones : the south east belonging to Bau Tu Long Bay, and the south west belonging to Halong Bay. World's most beautiful bays include : -

 

1. Valdes Peninsula                                       Argentina

2. Bahia's Bay                                               Brazil

3. Georgie-Vancouver                                     Canada

4. Quebec - Tadoussac Bay                            Canada

5. Mindelo Bay                                               Cabo Verde

6. Punta Arenas - Magellan strait                     Chili

7. Mount's Bay - St Ives Bay                           England

8. Bahia de Santander                                    Spain

9. Mont Saint-Michel Bay                               France

10. Morbihan's Gulf - Quiberon's bay               France

11. Corsica - Porto-Girolata Bays                   France

12. Somme Bay                                           France

13. Westedand Sylt                                      Germany

14. Lesbos Bay                                            Greece

15. Les Saintes                                            Guadeloupe - Fr

16. Backwaters of Kerala - Cochin                 India

17.. Bantry Bay                                            Ireland

18. Diego Suarez Bay - Antsiranana              Madagascar

19. Agadir Bay                                             Morocco

20. Banderas Bay - Puerto Vallarta               Mexico

21. Boca de Kotor                                       Montenegro

22. Geiranger Fjord                                     Norway

23. Setubal's Bay                                       Portugal

24. Table Bay                                             South Africa

25. Stockholm Bay                                     Sweden

26. Bodrum Bay                                         Turkey

27. Cap Cod Bay - Hyannis                         USA

28. San-Francisco Bay                                USA

29. Halong Bay                                           Vietnam

 

In late 2006, provincial authorities begun a long-term tourism investment plan that hopes to see Ha Long City emerge into a world class tourist destination. Ha Long City, the jumping off point to world heritage site Ha Long Bay, hopes to receive 4.7 mil­lion tourists by 2015 with 2.2 mil­lion of them being foreigners. There are over 10,000 rooms available in the prov­ince and more than 350 ships that carry tours of the renowned bay. Investors keen to cash in on the area's potential have been esti­mated to have pumped over US$2 billion into tourism in the city and the bay. That increase in invest­ment capital has in turn attracted a higher number of tourists. Plans are afoot to invest more in infrastructure of the area with a road from National Highway 18A to Yen Tit Mountain, a road from Dong Trieu Intersection to the Tran Royal Tombs and an international harbour at Hon Gai, all slated for completion. However, the director of the Viet Nam Administration of Tourism's Travel Department believes that a poorly planned string of hotels in Bai Chay have wreck havoc on the natural landscape of the area. Another area of concern facing planners is the rapid expansion of tourism infrastructure in Ha Long and Bai Chay. Experts fear that this may lead to investor confidence is­sues in the future, while environ­mental damage occurring in Bai Chay, Tuan Chau and Bai Tu Long Island could spread to Van Don, Quan Lai and Co To exacerbating the problem. Most observers agreed that the majority of tourism products of­fered in Ha Long City are not up to par with other world famous tour­ism destinations. Generally, Quang Ninh has focused on exploiting available natural re­sources rather than systematically investing in other tourism products. Local authorities have only made 3 caves available to tourists.

 

Van Don Economic Zone - covers the entire precincts of Van Don District with a total area of 2,200 square kilometers, and comprises 600 islands and islets in Bai Tu Long Bay.

 

Islands – Other turist complexes are planned for Quan Lan, Ngoc Vung, Minh Chau and Cai Rong islands.

 

 

Statistics

 

Ø      The prov­ince received nearly 2.5 million visitors in 2005 with about 1 mil­lion of them being foreign nation­als. Over the last decade the average rise in visitor numbers and spending has increased annually by 20-25%.

 

Ø      In the first 10 months of 2008 the province welcomed 3.8 million visitors - an increase of 27% on the same period in 2007. The province hoped to receive 4.8 million visitors in 2009.

 

Ø      The province was home to over 40 foreign direct investment tourism projects with investment capital of over $300 million by end 2007.

 

 

EXISTING STOCK

 

 

Novotel Ha Long Bay

 

In early 2009 the 4 star hotel was officially put into operation in Ha Long’s Bai Chay under the management of Accor. It is the first international-standard hotel in the coastal city with 12 floors and 214 rooms, a 150 ­seat restaurant, a 300 seat ballroom, an 80 ­seat bar and an open air swimming pool. The property has been developed by the Viet My JV costing USD$10 million and construction started in mid-2003 when it was called the Halong Bay View Hotel.

 

Halong Dream Hotel

 

In late 2004 the Hanoi based trading firm Geleximco - 60% - in a JV with Thai firms New Chip Xeng and SKR International inaugurated the USD$12 million hotel in Bai Chay Tourism Park in Quang Ninh's Halong City with 15 stories and 184 rooms plus restaurants, bars, coffee shops and conference halls. The long-delayed hotel was licensed in 1996 but delayed due to the Asian crisis in 1997.

 

Li Lai Hotel

 

Developed by the Hong Kong backed Li Lai Entertainment and Mong Cai Trade and Service company from 1993 with capital of $30 million, the full-scale Li Lai International Hotel opened in October 2002. The 5 star hotel is in Mong Cai as it is a gateway to the Vietnam's north east so a hub for tourism, import and export activities for the north's most important economic triangle Hanoi-Haiphong Quang Ninh. It is also adjacent to the large coastal region of China and ASEAN countries. The hotel has 250 fully equipped guest rooms and suites, 5 restaurants and bars and other services. The company is also investing in a new recreational complex in Da Den beach, Mong Cai town which boasts a golf driving range and a wide range of sport and recreational facilities. Mong Cai is one of the north's most prosperous towns with transportation having been improved. The construction of the highway from Halong to Mong Cai makes it only 2 hours from Halong to Mong Cai by hydrofoil and there is a newly-built pier at Red Mountain port.

 

Sheraton Ha Long Bay Resort & Four Points

 

In mid-2007 Starwood Hotels & Resorts Worldwide Inc reached an agreement to develop the hotel some 170 kilometers east of Hanoi. The Sheraton Halong Bay Resort is designed with 300 rooms and is expected to open by 2010 and the Four Points by Sheraton Halong Bay will have 160 guest rooms with its opening expected in 2008 (delayed). Both will be equipped with restaurants, swimming pools, spas and meeting rooms. The hotel and resort are being developed on a 12 hectare site which is slightly undulating and gently sloping upwards, offering guests breathtaking views of Halong Bay.

 

Royal International

 

In mid 2003 a casino and 112 villa-style rooms opened in Bai Chay beach as part of the Taiwanese-backed Royal International joint venture. The entire project came at a cost of $46 million and meets standards set by European and American casino regulations. It is the first casino in Halong Bay and the second in Quang Ninh province following the Li Lai International Club in the border town of Mong Cai. The casino has been built alongside an 11 hectare amusement park. There are also plans for a large animal circus and a 36 hole golf course. Royal International subsequently raised it capital to US$69 million from US$49 million to finance another 1,000 room hotel project with 25 floors.

 

Saigon Ha Long Hotel

 

In late 2002 the SaigonTourist hotel reopened after about USD$10 million worth of renovations on a large pine hill facing Ha Long Bay with 228No. 4 star rooms – the largest facility at that time.

 

ATI Eco Resort

 

In mid-2003 the American Technologies Incorporation, a business run by Viet kieu (overseas Vietnamese), launched the Bai Dai Resort east of Ha Long Bay with a total investment of about USD$5 million.

 

Mithrin Hotel

 

Developed by Hiep Long Quang Ninh Company the 4 star property opened in late 2003 with 88 suites, 4 food and beverage outlets, a business centre, health spa and tennis courts. The hotel commands views of Halong Bay and is managed by Swiss-Belhotel International.

 

Hoa Binh Complex

 

In late 2008 the Hong Kong Dong Thang Viet Nam International Joint Stock company opened the Hoa Binh (Peace) complex in Mong Cai. The 5,000 sqm multi-functional commercial centre is located in front of the Mong Cai-Dong Hung (China) border gate and has a total investment capital of US$38 million. The 11 storey building consists of a system of supermarkets and exhibition centres on the first to fifth floors, offices for lease on the sixth and seventh, an entertainment area on the 8th – 9th floors and the 5 star hotel on the 10th & 11th floors.

 

Bai Tu Long Ecological Tourist Park

 

Situated on Bai Dai Beach on Van Dong Island, the pristine Bai Tu Long Bay is the next golden area tapped for development into a key tourism hub in the north eastern region. Plans for the beautiful bay include luxurious resorts, hotels, gaming clubs, and an airport.

 

Hoang Gia JV

 

The Hoang Gia JV Tourist Development is at Bai Chay beach.

 

Hai Ninh Lila

 

The Hai Ninh Lila JV Co Ltd project is on the Chinese border in Mong Cai, Hai Ninh District.

 

Halong Plaza

 

An USD$11 million JV at 8 Halong Avenue.

 

Heritage Halong

 

A USD$7.5 million JV at 88 Halong Avenue.

 

TARGETS & GROWTH

 

Long Chau Villas & Residences

 

Developed by Tuan Chau, the $300 million real estate complex is claimed to be an ideal destination for foreign and domestic buyers, real investors and tourists. Covering 303 hectares, the complex will include luxurious villas, an 18-hole golf course, hotels, entertainment zones and high-class apartments designed by Italy-based G.F.C Architecture and Construction Company.

 

Tuan Chau Ecological Tourism & Entertainment Park

 

In mid 2007 Quang Ninh-based Au Lac Corp and Korea’s Top Vina Ltd.set about terminating an asset and personnel management contract in order to run the USD$393 million Tuan Chau Tourism Complex. The Korean investor was going to spend US$20 million over 3 years upgrading the resort and entertainment areas, and building a sports complex and a seafood restaurant. The complex has been developed by Au Lac Company with 230 hotel rooms, a dolphin and music show stage, a food court, a crocodile club and a circus on Tuan Chau Island overlooking the famous world heritage site.

Au Lac’s Tuan Chau Complex

 

Au Lac is developing a 36-hole golf course, a marina and 600 villas on Tuan Chau Island and a 6 star hotel with 400 rooms. Tuan Chau is the biggest island in Halong Bay and used to be home to fishermen. In 1997 Au Lac built a road linking the island with the mainland in exchange for land use rights on the island for developing an international tourist and entertainment complex. In late 2004, they signed an MOU with US firms Andy Dye Group and Tree Group to set up a joint venture (JV) company to invest US$1.5 billion in building Andy Dye golf courses, and Tree Group hotels. The Americans will hold 51% in the 250 hectare project which will include a two 18-hole golf courses, a golf club, a 140 room 5 star hotel, 640 condominiums, 300 luxury villas, 50 estate lots (for billionaires and international figures, according to the MoU), marina and yacht club, helicopter pad, underwater and adventure sports areas, and others.

 

International Properties’ Hotel

 

In early 2003 US firm International Properties Investment teamed up with a local company to establish a $9.9 million hotel project. The joint venture plans to build a four star hotel with 150 to 200 rooms in Halong Bay's Bai Chay beach area.

 

Emporer Hotel

 

In early 2003, a partnership between Halong Tourism Company and a Hong Kong investor announced plans for the $5.5 Emperor hotel project. The second $10 million phase will build apartments and offices for lease.

 

Korean Communications Hotel

 

In 2003, Korean Communication Net Vina and Over the Sea Vina announced plans to build hotels valued at $6.5 million.

 

Hoang Gia International Complex

 

In early 2006 plans were announced for the country's (then) largest and most modern hotel on the beach of Bai Chay. The 5 star hotel will have 707 rooms and cost US$51.4 million. The resort complex aims to become the cultural and tourist centre for the Ha Long City area so include an $8 million 1,200-seat theatre and a 14,000sq.m trade centre.

 

Song Da – Ha Long Hotel

 

In mid 2003 work began on the 4 star hotel in Ha Long city costing US$23.3 million. The 150 room hotel will be 15 storeys high and surrounded by 10 villas and have a large conference hall, a garden, swimming pool and an entertainment area facing Ha Long Bay.

 

Guisheng Complex

 

In mid 2005 the Hong Van Joint Venture Hotel Co co-owned by the Chinese Guisheng Real Estate Co and the Vietnamese Quing Thai Joint Stock Company announced plans to spend US$26 million building a trading centre, hotels and a park on 22ha in Ka Long Street. The joint venture will invest another $10 million in the construction of the park covering 18ha and boasting a golf course, an artificial lake, and a cinema complex.

 

Mong Cai Golf Course

 

In 2005 Hong Kong’s Li Lai announced plans to build the $36m Mong Cai golf course and resort on China border costing $36 million. Li Lai will set up a 50 year partnership with the Li Lai Hai Ninh joint-venture company to build the 18 hole golf course and 5 star 200 room hotel and villa complex on Tra Co beach. Li Lai owns a 60%.

 

Ha Long Mercure

 

In mid 2004 Accor announced that it was in negotiations with Song Da Urban and Industrial Park Development Company to develop a 134 room hotel and 24 villas bearing the Mercure name costing $8 million with 13 floors.

 

Royal Hotel

 

In mid 2004 the Royal International JV Co announced plans to build a 4 star, 750 roomed hotel worth US$20 million with 14 floors covering 31,000 sqm at Bai Chay Ward in Ha Long city.

 

Saigon Quang Ninh Holiday Town

 

In late 2004 a JV between 5 Vietnamese companies announced plans to invest USS2 billion to build a tourist satellite town in Ha Long. The Saigon Quang Ninh Corporation say the holiday town will cover 5,400 hectares of Ha Long City's outskirts and be divided into 60 components, the biggest being two resorts, a general service area, a cinema section, an area for sports and outdoor recreation, and a nature reserve. In the first phase basic infrastructure will be built concentrating on the coastline villas and resorts, a golf course, 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 five 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.

 

Vinh Thuon Resort

 

In late 2004 Hong Kong-owned Vinh Thuon Company announced plans to invest US$36 million building a resort on the Tra Ca near the Viet Nam-Chinese border. The planned resort will include an 18 hole golf course, a 5-star hotel and other facilities. Previously, Vinh Thuan wanted to build a golf course at Ha Long City, but the city has already planned a 27-hole golf course on Tuan Chau Island.

 

Golden Field Floating Resort

 

In early 2007 Holland's Viet Nam Hotel Project BV and Da Nang City's Golden Field Tourism and Trade Ltd got permission to build a $4.7 million floating resort in Ha Long Bay.

 

Halong Star Complex

 

In late 2008 Dubai World of the United Arab Emirates announced plans for a 5,000 hectare multi-billion sprawling complex of urban, industrial, and accommodation facilities in Yen Hung District 20km from Ha Long Bay by its subsidiary Limitless LLC. Limitless is also developing a US$500 million 5 star tourism complex in cooperation with Saigon Fuel Shipping Co or Safuco Limitless, Phuong Hung Joint Stock Company and International Property Investment Partners LLC on 125 hectares at Bai Chay’s Nha Mac Dynasty Lagoon. The complex overlooking the World Heritage-listed Halong Bay includes a 5 star 250 room hotel, a 100 room boutique hotel, 36 serviced villas, 190 top end villas, 85 luxury townhouses and 114 apartments.

 

Rockingham Complex

 

At the end of 2007 the US based Rockingham group expressed its intention to build a large tourism complex on Van Don island district. The project will pave the way for a series of tourism projects as part of the region's Van Don Economic Zone. The Ao Tien tourism complex will cover 100 hectares with $100 million in investment capital via a joint venture with Hai Duong Co Ltd. The complex will include a luxury resort, an entertainment area, shopping centre, conference centre and a golf course. The economic zone will cover Van Don Island district's entire northern coast, including a township and 11 communes with 600 islands and the Bai Tu Long national forest which covers more than 1,600 hectares.

 

Van Don Resort

 

At the end of 2007 plans were announced for a 300 hectare tourism complex worth US$112 million in Van Don to the 167 Joint Venture Co Ltd. The luxury tourism complex will include a 27 hole golf course a 5 star hotel of 15 stories, villas for rent, resort area, and an outdoor concert area. It is also seeking permission to build a casino.

 

 

Hai Phong

 

 

Statistics

 

Ø      In the first half of 2007 Hai Phong hosted 1.7 million tourists including  366,000 were foreigners - an annual increase of 20.45% while tourism revenue during the period mounted to US$30 million – up 43% on 2006.

 

Ø      Under the government's plan an international airport with a 3.5 kilometre runway will be built with an initial annual capacity of up to 800,000 visitors, to be expanded to 3-3.5 million passengers by 2020. Helicopter pads will also be considered on a number of islands. The upgrade will be done in 3 phases, with an investment of $60 million un­til 2010 with $18 million from 2010 - 2015 and $28 million until 2025. The upgrade will bring the airport up to 4E international standards of the International Civil Aviation Organisation and first level military airport standards, with the completed airport covering a total area of nearly 500 hectares. From now to 2015, the airport's landing and departing runways will be ex­panded to 3,050 by 50 metres, enough to receive Airbus A321 planes of around 180 seats and planes similar in size to the Boeing B767. The current land­ing space will be upgraded and 8 parking locations will also be constructed. The visiting area will be able to receive up to 800 visitors an hour while the new cargo station will have the capacity to handle 17,000 tonnes a year. Plans for the visiting area in­clude a commerce and service space covering 2,000sq.m in 2015 and expanding to 4,000sq.m in 2025. A food preparation area is also planned at 760sq.m by 2015, growing to 3,000sq.m in 2025. By 2025, the airport will grow to handle B747 - 400 and B777 planes (of around 300 seats) or equivalent. The occupancy rate of planes going through Hai Phong reached 87% in 2007, an increase from 78% in 2006.

 

Ø      As of the end of July, 2008, Haiphong attracted 294 foreign investment projects with a registered capital of $2.9 billion, mostly centred around the port and nearby industrial zones.

 

 

EXISTING STOCK (

 

Best Western Pearl River Hai Phong

 

In mid-2008 the Best Western International managed 4 star hotel opened costing USDS$6 million and covering 10,000sqm with 101 elegantly appointed guest rooms, and meeting, conference and banquet facilities for up to 600 guests - and the biggest fitness spa in the area.

 

Sunrise Resort & Bungalows

 

This $3.2 million resort opened in 2005 and was developed by Truong Binh Minh Tourism Company on Cat Ba Island. The resort embodies eco tourism values and has a swimming pool, bungalows and a seaside bar.

 

 

Camellia

 

This 4 star 80 room hotel opened in Hai Phong in 2004 in Hai Phong City by the Vinh Hoang Co. The hotel covers 474sqm in Hong Bang District and has 11 storeys, and is part of a tourism complex west of Hoi Phong. It includes a 500 seat conference room and 2 tennis courts.

 

Nacimex Do Son Hotel Resort & Casino

 

Situated in Do Son’s Zone 3 this $18 million complex by Nam Cuong Trading and Tourism Company, which owns and operates Do Son Casino, raised pledged investment capital to US$34 million from US$25 million in 2006 to expand operations. The 20:80 joint venture between Vietnam's Tradimexco in Haiphong and Hong Kong's United International Business Company was licensed for a period of 30 years.

 

Cozyville

 

In early 207 work started on the apartment building project in Hong Bang covering 22,400 square meters and comprising 3No. 20 story blocks, a 9 story multi-functional block with amenities like a parking lot, mini golf course, swimming pool and children's playground. Korean investor GNS Vina is the developer of the 420 unit complex.

 

TD Plaza

 

The city's first luxury apartment complex, it located near Cat Bi airport and includes a shopping centre, modern entertainment complex and condominiums. The project cost $21.2 million and was developed by the Vietnamese-owned Thuy Duong Company. The complex has 150 apartments and a 26,000 sqm shopping mall that houses MegarStar Cineplex and Parkson Department Store.

 

Royal Garden Harbour View Hotel

 

Situated at 4-7 Tran Phu, was developed by IPEM, the owners of the Dinh Vu IZ close-by, with offices and apartments.

 

Sun Flower Village

 

The first international-standard apartment complex with 120 apartments developed by South Koreans.

 

Do Son Casino Hotel Annex

 

The hotel annex of the Do Son Casino opened in 2006.

 

TARGETS & GROWTH

 

Cat Ba Island

 

Cat Ba Island, in the Cat Hai district of the city of Haiphong, is 150km from Hanoi and the largest of the 366 limestone karst islands that make up the Cat Ba archipelago. The archipelago covers an area of 345 square kilometers, internationally recognised for its spectacular karst tower formations, tropical rain forests, coral reefs, sea grass, sand beaches and mysterious caves. It is 30 kilometres off the Haiphong coast, has 2,320 different kinds of fauna and flora and has 570 hectares of primitive tropical forest. Endangered animals like the white-head langur and yellow monkey live on Cat Ba. The population of white-head langurs is thought to be only 150 and is expected to further fall in coming years. The sea around Cat Ba is home to more than 1,000 different marine species. Many of its smaller islands and bays, such as Le and Lan Ha, have precious coral reefs and untouched areas suitable for eco-tourism. If Cat Ba was recognised by UNESCO it would help reduce pollution and mitigate the negative impacts of tourism industry. A report from the Zoological Society for the Conservation of Species and Population, said increasing the island population, the construction of new roads to serve tourists and developments was destroying the landscape: rubbish was piling up and polluting the water.

 

There will be a cable car network between Hanlong Bay's Tuan Chau island and Cat Ba in the near future.

 

Cat Ba now has more than 2,000 rooms that can accommodate 5,000 visitors a day. Cat Ba is the fourth biosphere reserve area in Vietnam. Three others are Can Gio mangrove forest in Ho Chi Minh City, Cat Tien National Park and Red River Delta.

 

In early 2009 Vinaconex Investment and Tourism Development Joint Stock Company announced plans to invest US$600 million building the Cai Gia-Cat Ba tourism and urban area on over 170 hectares in Cat Ba District. The project will include villas, 3 to 5 star hotels, service centers, entertainment zones and other public works. In mid 2008 Oman’s State General Reserve Fund – SGRF – made a commitment to pour USD$20 million into the project designed by Group 70/PACMAR Inc of the US. The shareholders are Viet Nam Construction and Import-Export Corporation (Vinaconex), Viet Nam Export Import bank (Eximbank) and Viet Nam Agriculture and Rural Development Securities Co (Agriseco). The project is supported by key infrastructure development being undertaken by the government. They include the new Highway 5, connecting Ha Noi and Hai Phong, and the bridge linking Dinh Vu and Cat Hai.  The resort will cover 304 hectares with an expected construction density of 17.4%. Three of the most important zones are Tung Thu beach's hotels and an underwater park, hotels by the river mouth and the harbour's service centre.

 

Van Huong Resort

 

In early 2003 Daso Shareholding Company announced plans for a $26.6 million resort on 31 hectares of land reclaimed from the sea at Do Son Peninsula in Haiphong. The resort has 138 villas, gardens, an aquarium, recreational area and passenger wharf. Hai Phong based Daso is developing a giant $130 million housing and tourism complex on the island near Do Son Peninsula. The company built 2No. 600-metre bridges linking Do Son beach with the island.

 

Do Son Resort

 

In 2005 authorities approved the detailed master plan for the 88 hectare international standard resort in Do Son Municipality. The ecotourism zone on Hon Dau Island is being carried out by VINA Nam, a HCM City's joint-stock company. Under the project, VINA Nam will build a bridge connecting Do Son Town and the island, and modern entertainment centres spanning 100 ha on the island and on a part of a hill in Do Son.

 

Tan Quang Resort

 

In 2005 the Tan Quang Minh Tourism Joint Stock Company announced plans for the USD$12.7 million ecological resort in the northern port city of Hai Phong. Located in the Thuy Nguyen District, the resort covers 151 hectare.

 

(Song) Gia River Resort

 

In late 2008 the South Korean-invested Amco Mibaek Vina started work on the 118 hectare tourism complex worth US$582 million in Thuy Nguyen District. The resort will take 10 years to develop and comprise a 27 hole golf course, a section of 5 star hotels, a villa area, international hospital and school, a trade area, and entertainment and shopping areas among others. It’s plan is to attract customers, mainly from South Korea and Japan. Hana, South Korea’s third largest bank are financing the project.

 

Our City

 

In mid 2008 Hong Kong's Qia Feng Vietnam Company started work on the first township wholly owned by a foreign company in the city, covering 43.46 hectares in Duong Kinh district and costing about $85 million. Our City includes residential buildings, a 5 star hotel, shopping malls, entertainment areas, a school and a hospital. The construction area accounts for only 36% of the total area with 64% for developing parks, flower gardens, and reservoirs.

Nhat Viet Resort

 

In early 2008 Nhat Viet Ltd was granted a licence to build a 30,000sqm eco-tourism site with a total capital of US$2.2 million in Xuan Dan Commune on Cat Ba Island. The site includes 20 villas, a 3 star hotel with 35 rooms and one museum exhibiting antique ceramics with 1,000 pieces dated as far back as the Dong Son civilisation.

 

Accura Green Lotus Resort

 

In late 2007 Sen Xanh Co Ltd - a subsidiary of Singapore's Accura - begun building the 5 star resort and hotel complex in Haiphong City at a cost of about $20 million and covering 2.2 hectares in Do Son Economic Zone 1. The resort includes 150 rooms including standard rooms, deluxe rooms and first class executive suites, 2 conference halls with 500 and 300 person capacity are also on the cards. The halls will also be available for weddings, company dinners, fashion shows, mini musical concerts and cultural performances.

 

Magnum Hotel

 

In early 2008 Magnum Investment Group and Israel's Baran Group discussed the possibility of a 5 star hotel and urban development project with a 22-23-storey hotel.

 

Dong Shin Complex

 

In late 2008 Dongshing-Vietnam International One-Member Limited Liability Co and China's Construction Corp. No.8  and Dong Thang Vietnam Company started work on the $26 million 1st Phase of the Dong Thang Trade Centre. The 12 hectare site will see 65,000 square metres house exhibition stalls, offices, apartments and restaurants. Dong Thang Vietnam is a 100% foreign firm, belonging to Hong Kong's Dong Thang International. The company also developed the Hoa Binh Square Trade Centre in Mong Cai town.

 

Vincom Plaza

 

In mid 2008 work started on the USD$87.5 million property, the tallest building in Hai Phong comprising office, trade and apartments. It will be the biggest multifunctional complex in the city and cover 9,100sqm with 31 stories including a 3 storey basement. Vincom HP JSC is a wholly domestic invested business and a member of the Vincom Joint Stock Co, one of the country's leading businesses in the real-estate sector with many big projects in Ha Noi and HCM City.

 

Waterfront City

 

In mid 2008 Agape Vietnam announced plans to develop a commercial, housing, apartment and office complex by the Lach Tray River in Le Chan District of Haiphong City. The Singapore owned company will invest US$55 million.

 

Tinh Quoc Te Area

 

In late 2008 Khai De Investment Company, a joint venture between the Chinese Khai De International Group and Vietnamese CDI Company, announced plans to spend $300 million to build the Tinh Thanh Quoc Te residential area and a trade centre in Haiphong city covering 300,000 square metres and comprise a trade centre and 17 buildings boasting 16-18 floors, supplying thousands of 90-145sqm apartments. The complex will also include a 20,000sqm entertainment area, a 4,000sqm trade centre, tennis courts, swimming pool and parking areas. The investors have hired China's Hoa Dich company to plan the project and the US-based DND company as the designer. Huadi Investment Firm - the joint venture between Huadi International Group and Vietnamese company CDI – has a $300 million budget to complete the project.

 

Don Son Seaside Golf Resort

 

At the end of 2008 the Ngan Anh Trading & Tourism JSC begun the 1st Phase of the complex comprising a 9 hole golf course and auxiliary facilities covering 248 hectares in Do Son District costing $23.15 million.

 

Venus Cat Ba Tourism & Financial Complex

 

In early 2009 Goindwal Industrial and Investment Corp was licenced to build (the first) 18 hole golf course on Cat Ba Island's Xuan Dam District as part of the larger tourism financial complex, and worth nearly US$600 million.

 

Sapa / Lao Cai

 

 

Statistics

 

Ø      Lao Cai, 340 kilometres north of Hanoi on the border with China, is famous for Mount Fansipan and Sapa, which was once home to more than 200 villas built by French up to 1943. Almost all the villas were destroyed in later wars.

 

Ø      The local authority estimate 300,000 tourists - domestic and foreign - come to Sapa each year.

 

 

EXISTING STOCK

 

 

Life Heritage Resort Sapa

 

In late 2007 Life Resorts Management teamed up with Blue Ocean to form a 50/50 joint venture to invest in the 4 star project costing US$7-10 million. The partners also plan chartered flights as well as luxury carriages to better cater to their guests traveling between Hanoi and Sapa. The resort complex covers 15 hectares of hills, valleys and plateaus and comprises 28 French villa suites, 18 deluxe hill side chalets and 4 hillside mountain lodges as well as a business centre, restaurant, lounge, spa and heated out door swimming pool.

Victoria

 

The 4 star Victoria resort was for many years the only true international standard resort in Sapa, with private travel via carriages on the railway.

 

Biti’s Complex

 

In early 2006 Saigon footwear producer Biti's began leasing office and commercial space close to the Vietnamese-Chinese border in a bid to open up the Chinese market to traders. The $10 million complex provides 26,800 square metres of hotel, office and retail space on the economic corridor of Kunming, Lao Cai, Hanoi and Haiphong. The company planned to lease the 4 storey block to enterprises involved in insurance, banking, travel, shopping, restaurants and entertainment services, and the 2 other blocks for a 17 floor office block and the 3 star 11 floor 4,600sqm hotel.

 

 

TARGETS & GROWTH

 

 

Goldsilk Hotel & Casino

 

This $265 million project was refused by the PM but the hotel element is still permitted.

 

Sapa Topas Eco Lodge Resort

 

In late 2004 a Danish company announced plans to develop a unique resort beyond the northern hill station of Sapa with an emphasis on sustainable tourism that aims to provide guests with a quiet and luxurious retreat amongst the northern mountains. The Topas Ecolodge Resort features 25 lodges, a 2 storey restaurant, a reception area, a workshop for construction and maintenance, and nearby staff quarters. Topas intends to build another 25 lodges that will cater for families and alternative groups in a second stage of development.

 

Pullman Sapa Resort & Hotel

 

In early 2008 French hotel operator Accor announced plans to launch its luxury Pullman brand at two properties in Sapa : the 150 room Pullman Sapa Resort and 200 room Pullman Lao Cai Hotel.

 

Sapa DIC Hotels

 

In late 2008 the Sapa Development Investment Company announced plans to develop 2No. 5 star hotels in Sapa with a total capital of US$52 million.

 

ATI Resorts

 

American Tech Inc – ATI – has announced plans for an Eco-Tourism Resort in a 100 year old monastery; an eco-tourism resort; and a village of Ethnic Minorities with 'imported plants & flowers.'

 

Donaco Resort

 

In late 2003 the privately owned Halong Company sold its $750,000 investment in the $5 million Duyen Hai Hotel project transferring its 15% to its former partners, Singapore's Donaco Private and the Lao Cai Tourist Company. Donaco is now the major shareholder with a 75% stake. Permission has been given to transform the 32 room hotel into a 3 star property an allow 8 electronic gaming machines but this is now unlikely following subsequent PM decisions on gambling licences.

 

 

Last Updated ( Wednesday, 08 April 2009 )
 
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