FLC okayed to develop $126 mln resort complex in Hoa Binh

By Kim Ngan

Thu, March 24, 2022 | 7:09 pm GMT+7

FLC Quy Nhon Beach & Golf Resort in Binh Dinh province, central Vietnam. Photo courtesy of FLC Group.

Authorities of Hoa Binh province, about 80 kilometers west of Hanoi, has approved the Yen Thuy golf course, resort and tourism project of FLC Group, a leading property developer in Vietnam.

The project, capitalized at VND2,883 billion ($126 million), will be located across over 150 hectares of Huu Loi commune, Yen Thuy district and has a lifespan of 50 years. It will include a 36-hole golf course, a 5-star hotel, a convention center and resorts.

Of the $126 million in investment capital, more than 15% is equity and the remainder bank loans.

FLC is expected to complete legal procedures for the project before July 2022. Construction is set to take place from August 2022 to the end of July 2026.

The hotel, resort and conference center segment will be put into use from August 2024, while the golf course and ancillary works will be up and running from August 2026.

In Hoa Binh, FLC is also studying two other projects, including the 19.2-hectare Quynh Lam multi-function center project in Hoa Binh town and the 163-hectare Tong Dau eco-tourism urban project in Mai Chau district.

FLC has completed a study for the 981-hectare Thung Nai entertainment, sports, eco-urban and resort complex in the northern province's Cao Phong and Tan Lac districts. Hoa Binh is expected to approve detailed plans for the project in April this year, and it might break ground in June.

FLC Group, listed on the Ho Chi Minh Stock Exchange, is the investor behind many residential buildings in Hanoi via acquisitions. Its other major projects include FLC Samson Beach & Golf Resort in Thanh Hoa province, FLC Quy Nhon Beach & Golf Resort in Binh Dinh province, and FLC Ha Long in Quang Ninh province. The group also owns Bamboo Airways.

Tags:

Comments (0)

Latest|Most liked

Tags:

Vietnam's stock market regulator introduces green bond disclosure handbook

By enhancing transparency and standardizing disclosures, the Green Bond Disclosure Handbook that the State Securities Commission of Vietnam (SSC) introduced will build investor trust, reduce greenwashing risks, and support the growth of a credible and resilient green finance market in Vietnam.

Finance - Sun, October 19, 2025 | 2:11 pm GMT+7

Central Vietnam province Lam Dong seeks investment for 72 projects

The Lam Dong province People's Committee has called for investment in 72 projects across various sectors which are set for implementation in 2025 and the 2026-2030 period.

Industries - Sun, October 19, 2025 | 1:31 pm GMT+7

Vietnam's leading conglomerate Vingroup ventures into senior living market

Vingroup JSC (HoSE: VIC) has unveiled Vin New Horizon, a network of premium retirement and wellness communities built to international standards, marking the Vietnamese conglomerate’s strategic entry into the senior living market.

Industries - Sun, October 19, 2025 | 12:28 pm GMT+7

Vietnam’s agri major HAGL makes surprise return to property, saying land plot forgotten for 15 years

Vietnam’s agri major Hoang Anh Gia Lai JSC's (HAGL) return to real estate is an accident, after discovering a plot of land the company had “forgotten for 15 years” during its boom years, said chairman Doan Nguyen Duc.

Companies - Sun, October 19, 2025 | 10:02 am GMT+7

REE to set up 2 subsidiaries for wind projects in southern Vietnam

Ho Chi Minh City-based utility firm Refrigeration Electrical Engineering Corporation (HoSE: REE) has decided to establish two wholly-owned subsidiaries to develop two wind power projects in Vinh Long province, expanding its renewable energy portfolio in southern Vietnam.

Energy - Sun, October 19, 2025 | 8:00 am GMT+7

Australian CEO detained, NSH Petro’s recovery hopes collapse

The recovery prospects of NSH Petro (PSH) have dimmed after its Australian CEO was detained on allegations of fraud involving false promises of billion-dollar financing that led to the misappropriation of nearly $4.9 million.

Companies - Sat, October 18, 2025 | 6:53 pm GMT+7

Maintaining market status upgrade a bigger challenge: official

Vietnam's stock market status will be upgraded by FTSE Russell from "frontier" to "secondary emerging" from September 21 next year, but continued reform is critical as the bigger challenge is to maintain the new classification, said a market watchdog official.

Finance - Sat, October 18, 2025 | 1:30 pm GMT+7

HCMC partners with Nasdaq to develop int’l financial center

The Finance Department of Vietnam’s southern metropolis Ho Chi Minh City has signed an MoU with the U.S.-based stock exchange Nasdaq on the development of an international financial center (IFC).

Top News - Sat, October 18, 2025 | 11:56 am GMT+7

Vingroup plans $325 mln issuance of international bonds

Vietnam's leading private conglomerate Vingroup (HoSE: VIC) has announced a board of directors resolution to issue $325 million worth of international bonds, with a five-year term and a yield of 5.5% per year.

Companies - Sat, October 18, 2025 | 10:26 am GMT+7

Vietnam raises personal income tax deductions by over 40%

The Standing Committee of Vietnam’s National Assembly, the country's legislature, on Friday approved a resolution on adjusting personal income tax (PIT) deductions, marking a significant increase of over 40% from current levels.

Economy - Sat, October 18, 2025 | 9:11 am GMT+7

EVN subsidiary spreads the spirit of solidarity, compassion

The employees of National Power Transmission Corporation (EVNNPT) came together in an inspiring display of unity and compassion in October, each donating one day’s salary to support and express solidarity with the people of Cuba - a nation that has long shared a special friendship with Vietnam.

Companies - Sat, October 18, 2025 | 9:00 am GMT+7