Vietnam IP builder KBC, The Trump Organization to build $1.5 bln golf-hotel complex
Vietnam’s leading industrial park developer Kinh Bac City (KBC) and The Trump Organization owned by Donald Trump will jointly build a $1.5-billion five-star golf-hotel complex in Vietnam.
KBC said on Tuesday that relevant parties signed a memorandum of understanding (MoU) for the move in New York during Vietnamese Party chief and State President To Lam’s visit to the United States last month.
The parties included authorities from Vietnam’s northern province of Hung Yen and the investors – Hung Yen Group under Kinh Bac City and American venture capital funds IDG and Horitus.
Eric Trump (left), vice president of The Trump Organization; Donald Trump (center); and KBC chairman Dang Thanh Tam at a signing ceremony in New York, September 25, 2024. Photo courtesy of KBC.
The complex will feature a 54-hole golf course, housing areas and villas built to the top standard of The Trump Organization, serving premium events and tournaments.
Kinh Bac City, listed on the Ho Chi Minh Stock Exchange (HoSE) as KBC, is a top real estate developer in the country with over 5,000 hectares of industrial land and 900 hectares of urban land. The company boasts it attracts foreign direct investment (FDI) of $5 billion to its facilities in Vietnam every year.
KBC chairman Dang Thanh Tam said cooperation with The Trump Organization is a milestone in the company’s international collaboration that has the potential to improve the landscape of local areas towards international standards and sustainable growth.
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