The central province of Phu Yen is emerging as an attractive market for real estate investment, especially in large-scale hospitality projects.
The Crystal Holidays Marina Phu Yen resort in Phu Yen province (Photo: constructionplusasia.com) The central province of Phu Yen is emerging as an
attractive market for real estate investment, especially in large-scale
hospitality projects.
Early
last month, Indochina Kajima, a joint venture between local property developer
Indochina Capital and Kajima Corporation, a Japanese general contractor and
property developer, completed the process of buying and restarting a 1-billion-USD
resort real estate project at Bai Nom to be managed by world-famous brand Four
Seasons.
Peter
Ryder, General Director of Indochina Capital, said it would be an iconic
tourism project, one that would contribute to the development of Phu Yen into a
world-class resort "paradise."
“We
believe that, inspired by beautiful nature, this project will be recognised
world-wide with many prestigious awards.”
Also
in April the province saw the start of the construction of two luxury resorts,
Xuan Dai Bay and Crystal Holidays Marina Phu Yen in Xuan Dai ward, Song Cau
township.
Built
by Everland Group at a cost of 2.2 trillion VND (95.1 million USD), they will
provide nearly 1,000 hotel rooms and 200 villas to the hospitality market.
In
recent years the province has promoted investment in infrastructure and
tourism. The Tuy Hoa Airport has been upgraded and expanded to handle five
million passengers a year and wide-bodied aircraft.
Last
year, the province attracted investment of 8.8 trillion VND (383.7 million USD)
in 43 new projects./.