Malaysian realty developer Pavilion plans $1.4 bln complex in Vietnam, embracing MotoGP
Pavilion International, a leading real estate developer in Malaysia, plans to invest $1.4 billion in building a resort, entertainment and sports complex in the Mekong Delta city of Can Tho.
Global Partnership, Pavilion’s representative company in Vietnam, signed a memorandum of understanding (MoU) with local authorities regarding the move at an investment promotion conference held in Can Tho late last week.
Tran Thi Quynh Van (center), CEO of Global Partnership, is flanked by Tran Viet Truong, Can Tho Chairman (left) and Nguyen Van Hieu, Secretary of the Can Tho Party Committee, at a conference in the Mekong Delta city, southern Vietnam, December 10, 2023. Photo courtesy of Thanh Nien (Young People) newspaper.
An outstanding feature of the complex will be a Grand Prix motorcycle (MotoGP) racing track, helping Vietnam enter the MotoGP map, said Pavilion International chairman Bobby Yeoh Lam Jit.
Can Tho has been hosting national racing competitions for 120cc and 150cc motorbikes, and a MotoGP track would be warmly received in the city, said Truong Cong Quoc Viet, deputy director of the municipal Department of Culture, Sports and Tourism.
Can Tho boasts the advantage of being the beneficiary of heavy national investment in traffic infrastructure in the Mekong Delta including expressways, railways, seaports, and airports, said Tran Thi Quynh Van, CEO of Pavilion International.
A motorbike race held in Can Tho city, Mekong Delta. Photo courtesy of Lao Dong (Labor) newspaper.
Can Tho authorities granted investment certificates and signed MoUs worth over VND110 trillion ($4.54 billion) on the conference’s sidelines.
Prominent among them were the Vietnam-Singapore Industrial Park (VSIP) investing VND7,250 billion ($298 million) in building the Vinh Thanh 2 Industrial Park; local business Thanh Binh Phu My investing VND8,380 billion ($345 million) in building phase 2 of Vinh Thanh Industrial Park; and leading industrial real estate developer Kinh Bac City Development Holding Corp investing VND17,000 billion ($700 million) in building the Co Do-Thoi Lai Industrial Park and the O Mon High Tech Park.
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