Vingroup urged haste on northern Vietnam golf projects

Vietnam’s largest private conglomerate Vingroup has been urged to expedite work on two golf projects in the northern provinces of Quang Ninh and Bac Giang.

In April 2021, a joint venture of Vingroup and Vingroup’s real estate arm Vinhomes was approved as the investor of the Ha Long Xanh urban complex in Quang Yen and Ha Long towns in Quang Ninh.

The 4,100-hectare, VND232.4 trillion ($9.53 billion) project has a 229.8-hectare golf section in Ha Long town, home to UNESCO heritage site Ha Long Bay. Construction of the complex began in October 2021.

At a Wednesday meeting of the Quang Ninh administration, Cao Tuong Huy, acting Chairman of the province, requested investors of the project to speed up progress and put the golf course into operation next year.

Huy also asked authorities of Ha Long and Quang Yen towns to do their part in pushing the project’s progress, especially in site clearance.

Sole bidder

Thai Son Investment Construction Corporation, a Vinhomes subsidiary, has been asked to ensure that an urban golf course area in Bac Giang province is built within 72 months of the investor being approved.

The Bac Giang Department of Planning and Investment has announced that the company was the only applicant for the project.

The project, called Nham Bien Mountain golf course urban area, was approved by provincial authorities in June. The VND6.38 trillion ($261.6 million) project has over 88 hectares earmarked for a golf course and 46 hectares for the urban area.

The 50-year project’s investment includes VND566 billion ($23.2 million) for compensation and resettlement of local citizens and nearly VND4.56 trillion ($186.9 million) for construction and other activities.

Project revision

Meanwhile, the withdrawal of Vinhomes and a local business from a VND23.55 trillion ($961.5 million) project in the central province of Ha Tinh has prompted leading local builder Hoanh Son Group JSC to express interest.

Hoanh Son has proposed that provincial authorities revise the project details to scale it down and reduce costs.

The province had called for investors for the project in 2020. It features high-rise buildings, affordable houses, houses for resettlement and facilities like hospitals, parks and schools.

In reply to Hoanh Son, provincial authorities have asked relevant agencies to check the proposal and consider adjustments to the plan towards reducing site clearance and construction costs.