T&T Group, Qatari partner seek to open $4.5 bln Hanoi sports-entertainment complex in 2028

Vietnam’s conglomerate T&T Group and Qatar’s JTA International Investment Holding expect to receive Hanoi’s support to put their $4.5 billion sports-entertainment complex into operation in 2028.

They showed their wish at a Tuesday working session with Hanoi authorities on the project.

The complex will cover approximately 330 hectares in Dong Anh district, about 10 km from the center of Hanoi and 6 km from the Noi Bai International Airport. It consists of two main components: a sports complex spanning 120 hectares and a 143-hectare themed amusement park system.

The Olympic-standard sports complex, at an estimated cost of about $1.3 billion, will feature international-standard sports facilities, including a 60,000-seat modern stadium.

Meanwhile, the $3.2 billion themed amusement park system will include themed parks and entertainment areas based on world-renowned models. It aims to become the largest amusement park in Vietnam and a leading entertainment destination for residents, both at home and from abroad.

Amir Ali Salemi, CEO of JTA International Investment, said that since 2022, JTA has been promoting investment in Vietnam through collaboration with T&T Group. The firm aims to connect investors globally, especially from the Middle East, with Vietnam.

JTA collaborates with T&T Group to invest in the multi-purpose sports and amusement park complex in Dong Anh with an aim of building and developing an iconic landmark for the capital and the entire country in infrastructure, healthcare, sports, and social welfare, closely tied with entertainment and tourism, he noted.

According to Do Vinh Quang, vice chairman of T&T Group, the complex, featuring Olympic-level facilities, will become an ideal venue for large-scale regional and international tournaments, enhancing Hanoi's position on the global sports map. It will also serve as a foundation for training and developing young athletic talent, contributing resources to national teams.

“Once completed, the complex will be a key highlight in Hanoi's satellite urban network, connecting with other large projects in Dong Anh, such as smart cities, new urban areas, and major commercial centers,” he stressed.

The project is projected to create tens of thousands of jobs in sports operations, tourism services, commerce, and entertainment, he said, adding its amusement park system is expected to attract a large number of domestic and international tourists, boosting the tourism sector and increasing retail, hotel, and restaurant revenue.

“This cooperation between T&T Group and JTA is not just a sports project but a symbol of integration and sustainable development. With more than 30 years of experience in sports investment and development, we are confident that together with JTA, we will create a world-class project that will contribute greatly to the socio-economic development of the capital and elevate Vietnam’s image on the global map,” Quang remarked.

At the working session, Chairman of the municipal People's Committee Tran Sy Thanh stated that this model is part of Hanoi's vision for building a modern, cultured, and civilized capital, and the Hanoi government is ready to support such projects.

Earlier, on October 31, 2024, the two sides exchanged an MoU for the joint project in the witness of Vietnamese Prime Minister Pham Minh Chinh, who was on an official visit to Qatar.

Chinh then lauded the project, saying that Hanoi currently has no outstanding sports facilities to serve its 10 million citizens. In the long term, the sports complex should run supplementary services, he added.

The Prime Minister also called on JTA to invest more in Vietnam and connect more Qatari businesses to invest in the Southeast Asian country. Local authorities would back investments and help with administrative procedures, he said.