Danang resort & spa project raises chartered capital by 70% to $68 mln

ODK Mikazuki Vietnam Co., Ltd., a subsidiary of Japan’s Mikazuki Hotel Group, has increased the charter capital of its Danang-Mikazuki Japanese Resort & Spa in the central city of Danang to over VND1.6 trillion ($68 million) from VND942 billion ($40 million).

Under the renewed business registration certificate granted to the company by the municipal Department of Planning and Investment, the additional capital will come from foreign investment.

ODK Mikazuki Vietnam Co., Ltd, established in 2005, developed the Danang-Mikazuki Japanese Resorts & Spa on an area of over 13 hectares in Hoa Hiep Nam ward, Lien Chieu district with a total investment of VND3.9 trillion ($165.87 million).

Put into operation in June 2023, the high-end resort and entertainment complex takes its roots from Japanese culture, with a 22-storey hotel, the Mikazuki Water Park 365, a Japanese-standard Onsen hot spring bath, and an infinity pool.

In January 2023, Mikazuki Group also held a groundbreaking ceremony for a pedestrian overpass across Nguyen Tat Thanh street in Thanh Khe district. The project aims to celebrate the 50th anniversary of diplomatic relations between Vietnam and Japan.

The VND42 billion ($1.78 million) overpass is nearly 11 meters high and 140 meters long with a floor area of about 655 square meters. The paths leading to the Japanese-style overpass are designed as knots in the Japanese art of knitting, manifesting the strong bond between the two cultures of Vietnam and Japan.

According to the Danang Department of Planning and Investment, in the first five months of 2023, the beach city attracted FDI of $22.45 million, including $8.74 million of newly registered capital, $10.94 million in additional capital for existing projects, and $2.77 million in share purchases.

To date, Danang has lured 1,004 FDI projects with total investment capital of nearly $4.1 billion. The city has 57 projects calling for investment in the 2020-2025 period in fields such as infrastructure, industry, logistics, high technology and information technology, education, tourism, and high-tech agriculture.

Danang, a top tourist attraction in central Vietnam, is famous for Southeast Asia's most beautiful beaches, and is close to UNESCO-recognized heritage sites like the ancient town of Hoi An in Quang Nam province and Hue Citadel in Thua Thien-Hue province.