Foreign Investors Coming back to Golf Projects in Vietnam

3:26:28 PM | 7/8/2005

Many foreign investors are focusing on the Vietnamese real estate market, particularly projects on developing golf courses, according to Mr. Marc Towsend, General Director of Richard Ellis Market Research and Consulting Company.

Currently there are nine golf courses available for play in Vietnam and many others are under construction or going to get licenses. In the North of Vietnam only, apart from the two famous golf courses of King’s Island in Ha Tay province and Chi Linh Star Golf & Country Club in Hai Duong province, some others in the provinces of Hoa Binh, Quang Ninh, Ha Tay, and Vinh Phuc, and in Soc Son District in Hanoi are expected to become operational soon.

After the Government approved the cultural eco-tourism project in Soc Son district in Hanoi, three investors have been asking permission to build golf courses.

The Ministry of Planning and Investment has recently licensed Long Son Golf Course Project in Luong Son district, northern Hoa Binh province, invested by East Asia Air Express Inc of Korea. As planned, the first phase with 18 holes of a 36-hole course will be completed by the end of 2005 and the whole course of Long Son project will be fully finished in 2006. In addition, the project will include a club house, a five-star hotel and a series of international-standard with total investment of US$20 million.

The booming of golf courses the world class facilities, reasonable prices of tourism services in Vietnam, and the friendly good nature of the Vietnamese people are now making foreign tourists consider Vietnam as an ideal golfing destination in the region as well as in the world.