Vietnam - Saigontourist’s 6 big tourism projects await investors

Saigontourist Holding Co. will invite investors to help out with capital to develop six tourism projects in HCMC and other provinces at a total cost of US$1.65 billion.

There are two small projects to construct four-star hotels, namely Saigontourane Hotel in the central city of Danang and Saigon-Phu Tho Hotel in the northern province of Phu Tho with total capital of US$35 million and US$11 million respectively.

The remaining projects are larger. Saigon Sunbay will cover 600 hectares in HCMC’s Can Gio District and need investment capital of up to US$1.4 billion.

Similarly, the Rach Chiec Residential Multi-Use Complex is set to be built with a 23-story building filled with 600 apartments, exhibition-trade centers and a golf course. The complex scheme requires total capital of US$75 million.

The business also plans to deploy the scheme Saigon South Amusement Park and Yacht Marina covering over 10 hectares in HCMC’s Nha Be District. Accordingly, there will be a 15-storey skyscraper to be constructed with 300 hotel rooms and condos, 15 villas, yacht terminals and casino services with a total capital of US$64 million.

Meanwhile, the Saigon-Cam Ranh resort in Khanh Hoa Province covering 19.8 hectares will be constructed into 800 apartments, 40 villas, a yacht terminal along with other services, worth US$69.7 million.

According to Saigontourist, these projects have all finished site clearance phases so as to start construction. Most projects are expected to be completed in the 2014-2015 period, except for the massive Saigon Sunbay, which is set to be finished in 2018.

Currently, the company manages over 100 subsidiaries in the field of hotels, resorts, restaurants and logistics with total revenue worth over VND10 trillion.

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