$4.5 bln superyacht-resort complex project proposed in south-central Vietnam

Lac Viet Palmer Johnson Coastal Urban Areas-Superyacht JSC, based in Phu Cat district, Binh Dinh, is keen to invest in a $4.5 billion superyacht-resort complex in the south-central province.

The provincial Department of Planning and Investment said it is collecting feedback from authorities on the company's proposal to seek in-principle approval for a survey of the project site and project development.

Under the proposal, the Lac Viet Palmer Johnson De Gi superyacht-resort complex will span approximately 4,360 hectares, including the entire surface area of De Gi lagoon (about 1,570 hectares) and parts of Phu Cat and Phu My districts and Quy Nhon town.

The total investment for the project is estimated at VND105.75 trillion (around $4.5 billion), of which 30%, or about VND31.73 trillion ($1.3 billion), will come from the investor; 50% will be sourced from loans provided by banks and financial institutions, totaling VND52.88 trillion ($2.2 billion); and the remaining 20% will be raised from strategic partners.

The development is expected to take 60 months from the time it gets an official permit from authorities. It is planned to operate for 70 years.

Lac Viet Palmer Johnson said the project is a significant component of the province's long-term development strategy aimed at attracting high-net-worth individuals and international elites to the locality, thereby establishing Binh Dinh as a premier luxury tourism destination.

Beyond creating an international-standard resort, the project seeks to lay the foundation for transforming Binh Dinh into a global financial hub, drawing international investors and fostering economic growth, it noted.

Catering to the ultra-wealthy

The Lac Viet Palmer Johnson De Gi project is being designed with ultra-wealthy individuals in mind, offering world-class amenities that will make it a premier destination for global elites. It includes a superyacht marina capable of housing 50-100 luxury yachts, with premium facilities such as hi-end restaurants, bars, luxury retail stores, and spas.

There will be ultra-luxury floating villas that combine cutting-edge technology with natural surroundings, each featuring private docks, pools, and panoramic views. In addition, villas perched on the hills will offer sweeping views of the lagoon and mountains, equipped with pools, gardens, and top-tier security.

For water-based entertainment, guests can enjoy water sports, such as kayaking and scuba diving, as well as floating restaurants and exclusive leisure areas.

A five-star hotel complex with 1,500 rooms will have an innovative horizontal design that preserves the natural landscape.

The resort will feature an 18-36 hole golf course, designed to host international tournaments. Hon Trau Island will be developed into an ultra-luxury retreat with a small number of exclusive villas and superyacht docking facilities.

A high-end event center will host international conferences, cultural festivals, and world-class entertainment, while a dedicated area for seniors will provide independent living with full amenities, including housing, dining, fitness centers, and health care.

Additionally, the project will include a community tourism village that showcases the region’s local fishing culture and heritage.

The Lac Viet Palmer Johnson De Gi project promises to provide significant economic benefits to Binh Dinh, including job creation, infrastructure development, and increased tourism revenue. It is expected to elevate the province’s global profile and attract further investment, particularly in the luxury tourism sector.

On January 16, Binh Dinh Chairman Pham Anh Tuan met with chairman of Swiss investment fund Finance Suisse Roland Staub and chairman of the world’s leading superyacht builder Palmer Johnson Timur Mohamed, along with Tong Duc Hieu, chairman of local firm Lac Viet Group.

Before the meeting, the two companies, in collaboration with Lac Viet Group, conducted a field survey to explore the potential for high-end tourism development, especially along the coastal areas with diverse natural landscapes.