VinaCapital Hoi An Resort, a company that was just launched last Saturday, announced plans to build the US$16-million Hoi An Royal Bay Resort.
The company is a joint venture between Onshine Investment Ltd under the VinaCapital Group and Sai Thanh International Investment and Tourism JSC (STI).
The developers hope to turn the resort into a five-star facility, covering 7.3ha in Dien Ban District, Quang Nam Province.
The resort will have 100 small villas, swimming pools, restaurants, clubs and offer an array of services.
Nguyen Duc Tri, STI general director, said that three-months after receiving an investment licence, the project was approved by the Quang Nam Construction Department, opening the way for the company to begin clearing land for construction.
Le Minh Phuc, VinaCapital Hoi An general director, said construction of the resort will begin this year and be completed within 30 months. Executives hope to begin welcoming guests in 2009.
On Saturday, VinaCapital also signed a management service agreement for the Hoi An Royal Bay Resort with Accor, a leading international hotel management company.
Source: VNS
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