Sun Group gets approval for two new northern highlands hospitality projects

By Bao Long
Mon, August 29, 2022 | 2:33 pm GMT+7

Leading real estate developer Sun Group, which specializes in theme parks, has been allowed to develop two major hospitality projects in Hoa Binh province bordering Hanoi.

Authorities in the mountainous province have permitted Sun Group’s Hoa Binh Sun Co. to implement the two projects on an area of 274 hectares with a total investment of VND9,284 billion ($396.53 million).

The Hoa Binh Lake area, one of the tourist attractions in Hoa Binh province. Photo courtesy of Vietnam National Administration of Tourism.

The Hoa Binh Lake area, one of the tourist attractions in Hoa Binh province. Photo courtesy of Vietnam National Administration of Tourism.

The first project is the 189-hectare Cuoi Ha complex with “ecological” urban areas, a theme park and cable car system in Kim Boi district. This is expected to cost about VND6,656 billion ($284.3 million) to build.

The entire area with 1,200 villas and 700 shophouses will be designed for an expected population of 11,000 people.

The construction will happen in three phases - Q4/2022 to Q4/2024; Q1/2023 to Q4/2024; and Q1/2024 to Q4/2025.

The second project is the 85-hectare Ho Kha eco-urban area, including a resort with hot mineral springs, in Lac Son district. The VND2,627 billion ($112.2 million) project is expected to house about 4,600 residents with 110 to 200 detached villas, 100 to 120 semi-detached villas and four-in-a-block villas.

The group plans to develop the second project in two phases: Q4/2022 to Q4/2024; and Q2/2023 to Q4/2025.

Meanwhile, Canada-based design firm Forrec had announced on August 22 a long-term strategic partnership with Sun Group to develop world-class tourism projects in Vietnam.

“Partnering with Sun Group to deliver exceptional designs, programming, and strategies will allow us to create transformational guest and visitor experiences in Vietnam,” Cale Heit, president and CEO of Forrec said in a release.

Golden Bridge in Sun World Ba Na Hills on the outskirts of Danang city, central Vietnam. Photo courtesy of Sun Group.

Golden Bridge in Sun World Ba Na Hills on the outskirts of Danang city, central Vietnam. Photo courtesy of Sun Group.

Established in 2007, Sun Group has become one of the Vietnam’s leading developers across the entertainment, hospitality, infrastructure and real estate sectors.

Among its properties are Sun World Ba Na Hills, Asia Park, Sun World Fansipan Legend, Sun World Ha Long, Sun World Phu Quoc, Sun World Ba Den Mountain and Sun World Cat Ba.

Comments (0)
  • Read More
Vietnam Aeon's second most important market: exec

Vietnam Aeon's second most important market: exec

Vietnam is retail giant Aeon's second most important market, after Japan, says Kazaoka Takao, chief merchandising officer at Aeon Vietnam.

Companies - Fri, December 13, 2024 | 11:18 pm GMT+7

Thai gov't collaborates with Google to combat cyber threats

Thai gov't collaborates with Google to combat cyber threats

The Thai government has intensified efforts to combat severe cyber threats, particularly malicious applications that siphon funds from users' accounts.

Southeast Asia - Fri, December 13, 2024 | 10:25 pm GMT+7

S&P affirms Thailand's BBB+ credit rating with stable outlook

S&P affirms Thailand's BBB+ credit rating with stable outlook

S&P Global Ratings has reaffirmed Thailand’s sovereign credit rating at BBB+ with a stable outlook.

Southeast Asia - Fri, December 13, 2024 | 10:20 pm GMT+7

USD price likely to hit VND25,450 by Q2/2025: StanChart

USD price likely to hit VND25,450 by Q2/2025: StanChart

Standard Chartered forecasts Fed rate cuts, which should lead to a softer-USD bias over the next few quarters, will result in the exchange rate of USD/VND at 25,250 by the end of 2024 and 25,450 by Q2/2025.

Economy - Fri, December 13, 2024 | 10:03 pm GMT+7

ThaiBev earns $1.71 bln revenue from Vietnam in fiscal year 2024

ThaiBev earns $1.71 bln revenue from Vietnam in fiscal year 2024

Thailand’s largest beverage firm Thai Beverage (ThaiBev) earned a revenue of THB58,319 million ($1.71 billion) in Vietnam in fiscal year 2024 (ending September 30, 2024), down 2.7% year-on-year.

Companies - Fri, December 13, 2024 | 6:59 pm GMT+7

56.1% of Japanese firms target expansion in Vietnam: survey

56.1% of Japanese firms target expansion in Vietnam: survey

As many as 56.1% of Japanese firms aim to expand their activities in Vietnam in the next one to two years, reflecting their stable business confidence, according to a survey of the Japan External Trade Organization (Jetro) for fiscal year 2024.

Economy - Fri, December 13, 2024 | 6:51 pm GMT+7

Former Prime Minister Nguyen Xuan Phuc disciplined

Former Prime Minister Nguyen Xuan Phuc disciplined

The Politburo, Vietnam’s supreme decision-making body, on Friday issued warnings to former PM Nguyen Xuan Phuc and former Deputy PM Truong Hoa Binh, while reprimanding Truong Thi Mai, former Secretary of the Party Central Committee, for their violations while on duties.

Politics - Fri, December 13, 2024 | 4:33 pm GMT+7

Sun Group breaks ground on $512 mln Aspira Tower project in Phu Quoc

Sun Group breaks ground on $512 mln Aspira Tower project in Phu Quoc

Sun Group, Vietnam's leading real estate developer, recently held a groundbreaking ceremony for the VND13 trillion ($512 million) Aspira Tower project on Hon Thom Island, Phu Quoc, southern Vietnam.

Real Estate - Fri, December 13, 2024 | 3:35 pm GMT+7

Vietnam aims to remove obstacles facing renewable energy projects by Jan 2025

Vietnam aims to remove obstacles facing renewable energy projects by Jan 2025

The government strives to solve problems facing renewable energy projects by January 31, 2025, Prime Minister Pham Minh Chinh said at a Thursday conference on the government’s policy to aid such projects.

Energy - Fri, December 13, 2024 | 3:23 pm GMT+7

FDI a driving force for double-digit growth: parliament member

FDI a driving force for double-digit growth: parliament member

Vietnam's FDI attraction will likely remain "very good" in 2025 thanks to investors' trust in the country's internal strength, says Prof. Dr. Hoang Van Cuong, member of the National Assembly's Finance and Budget Committee.

Economy - Fri, December 13, 2024 | 1:37 pm GMT+7

Vietnamese conglomerate T&T Group becomes strategic shareholder of Vietravel Airlines

Vietnamese conglomerate T&T Group becomes strategic shareholder of Vietravel Airlines

T&T SuperPort, T&T Airlines, and BVIM Fund Management JSC, all part of the T&T Group ecosystem, have become strategic shareholders of Vietravel Airlines, a member of travel service provider Vietravel Group.

Economy - Fri, December 13, 2024 | 12:57 pm GMT+7

Vietnam refinery operator to list on HCMC bourse 

Vietnam refinery operator to list on HCMC bourse 

Binh Son Refining and Petrochemical JSC (BSR), the operator of Vietnam’s first oil refinery, has received the Ho Chi Minh Stock Exchange’s (HoSE) approval to list its BSR shares on the major bourse.

Finance - Fri, December 13, 2024 | 12:45 pm GMT+7

Samsung urges Vietnam to soon issue Investment Support Fund rules

Samsung urges Vietnam to soon issue Investment Support Fund rules

Vietnam should soon issue a decree on the Investment Support Fund, Samsung Vietnam general director Choi Joo Ho said at a Thursday meeting with Vietnamese National Assembly Chairman Tran Thanh Man.

Industries - Fri, December 13, 2024 | 11:17 am GMT+7

Improved domestic manufacturing to drive Vietnam stock market in 2025: brokerage

Improved domestic manufacturing to drive Vietnam stock market in 2025: brokerage

Vietnam’s stock market in 2025 will be fuelled by the recovery of domestic manufacturing, a key driver of growth, according to broker Mirae Asset.

Finance - Fri, December 13, 2024 | 8:20 am GMT+7

Malaysia eyes to become global medtech hub

Malaysia eyes to become global medtech hub

Malaysia is on track to become a global medical technology (medtech) hub with its strong policies in attracting and executing the right investments, says Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz.

Southeast Asia - Thu, December 12, 2024 | 10:14 pm GMT+7

Malaysia launches national AI office for shaping policy

Malaysia launches national AI office for shaping policy

Malaysia on Thursday launched a national artificial intelligence (AI) office aimed at shaping policies and addressing regulatory issues, as it looks to establish itself as a regional hub for AI development.

Southeast Asia - Thu, December 12, 2024 | 10:10 pm GMT+7