Vingroup kicks off gigantic sea encroachment tourism-urban area project in southern Vietnam

Vietnam's leading conglomerate Vingroup on Saturday broke ground on its sea encroachment tourism-urban area project, Vinhomes Green Paradise, in Can Gio district, Ho Chi Minh City.

Vinhomes Green Paradise will have total investment capital of more than VND217.05 trillion ($8.44 billion), according to the 1/500 detailed planning approved by HCMC authorities earlier this year. Of this, nearly VND33 trillion ($1.28 billion) will come from the investor's equity.

The project will be built with ESG (environmental-social-governance) standards that feature harmony between people, nature and technology.

With a scale of 2,870 hectares, a population of 230,000 people, and special ecological advantages, it seeks to become a leading ESG urban area in the world, according to a Vingroup release.

Vinhomes Green Paradise is located in Long Hoa commune and Can Thanh township, all in the coastal district of Can Gio, about 50 km southeast of HCMC's center.

It will be connected to the inner city via the HCMC-Can Gio high-speed urban railway, with a maximum speed of 250 km per hour.

The project is expected to create growth momentum not only for HCMC but also for the entire southeastern region.

Speaking at the event, Nguyen Viet Quang, vice chairman and CEO of Vingroup, said: “Urban development in Can Gio needs to have a completely new approach, balancing development and conservation. We aspire to build Vinhomes Green Paradise into a world-leading ESG urban area, demonstrating Vietnam's ESG class on the global map.”

In addition to pioneering the creation of the world's leading ESG urban area in Vietnam, based on three pillars "green - smart - ecological", Vingroup aims to develop Vinhomes Green Paradise into "a new symbol of prosperity with a series of high-class facilities that are unprecedented in Vietnam".

Vingroup and Boston Consulting Group (BCG) will work to meet the strictest environmental criteria: optimizing energy and water; prioritizing the use of recycled materials; and building a smart urban management system.

Vingroup will develop a wind power system 10 km offshore to provide clean electricity for the megacity and the locality.

A highlight of Vinhomes Green Paradise is the “Blue Waves Theater” with architecture among the most unique in the world, designed by famous consultancy Gensler.

The seven-hectare subproject includes Southeast Asia's largest theater complex, with two theaters of 3,500 seats and 1,500 seats; a 40-room conference area; a wedding area with eight large banquet halls; a 45,000 sqm exhibition area; a square that can accommodate up to 50,000 people; and a diverse restaurant and culinary service area.

Other facilities include the world's largest artificial lake Paradise Lagoon (443ha); five-star international port Landmark Harbour capable of receiving luxury super yachts; high-end hotel chain; and two golf courses, each with 18 holes designed by legend Tiger Woods (West-Sunset course) and Robert Trent Jones II (East - Sunrise course).

In particular, the 122 ha tourism-entertainment complex, including a Safari; a theme park following the Disneyland, Universal model; and a Winter Wonderland 30,000 sqm ice and snow playground - a Top 5 in the world with an ice rink, ski area and zipline will bring an unprecedented "winter experience" to the hot southern region.

Along with the "urban wonders" are a series of events to enhance experiences and connect the community that will be held continuously throughout the year, such as large-scale cultural-artistic-tourism festivals; golf tournaments; boat races; international sports; top art shows; and activities to raise community awareness about green, sustainable living that "will ensure Vinhomes Green Paradise is always filled with a festive atmosphere 365 days a year".

Vinhomes Green Paradise is also oriented to become a financial economic center of the region.

The complex will have more than two million square meters of office, commercial and hotel floor space, along with a series of luxurious amenities, including a 108-storey tower which will be a top 10 in the world, luxury villas, high-class apartment buildings, modern commercial centers, and famous Michelin restaurants.

In particular, Cleveland Clinic, one of the world's largest non-profit academic health systems, will be present at Vinmec Can Gio. Cleveland Clinic will advise, support recruitment, and train personnel to help make Can Gio a strong attraction for tourism-healthcare services.

The project will also feature the high-quality Vinschool Education System and prestigious domestic and international education brands.

Under the HCMC planning for the period 2021-2030, with a vision until 2050 approved by Prime Minister Pham Minh Chinh, Can Gio, HCMC’s only coastal district, will become an ecological urban area, with biosphere reserves preserved.

It will focus on marine economic development, with transshipment ports, a free trade zone, logistics, tourism, marine ecological urban areas, and renewable energy.

To achieve this goal, in addition to the sea encroachment tourism-urban area project, HCMC has the Can Gio international transit port project, with total investment capital of about $6 billion.