Vietnam to HaveFirstSea Encroachment Villa-Golf Course Project
The Tuan Chau Group and T&H Ha Long Investment Joint Stock Co said that they will jointly carry out a villa-golf course project worth VND5.7 trillion ($356.2 million) in northern Quang Ninh province, state media reported July 2.
&ldquoThe Long Chau&rdquo complex, the first of this kind in Vietnam, will be located on 303 hectares in the north of Tuan Chau Island, Ha Long City, the Saigon Liberation newspaper said.
The complex, which will bear the United Arab Emirates-style architecture, will include luxury villas, an 18-hole golf course, marinas, beaches, a five-star hotel, trade centers and shopping malls, the news source said.
Dao Hong Tuyen, chairman of T & H Ha Long said, his company will issue VND500 billion worth of bonds in the coming months to mobilize capital for the project.
Quang Ninh is now home to 100 hotels with 2000 rooms and nearly 100 private mini-hotels and rest houses.
The province boasts Ha Long Bay, which was recognized as a world natural heritage site for landscape value in 1994 and geological value in 2000 by the UNESCO. (Saigon Liberation, Investment)
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