Vietnam's real estate firm VinaCapital, together with Hong Kong's Gold Yield Enterprises and the Suncity Group of Macau, have entered into a joint venture to develop Hoiana, a new resort destination located south of Hoi An in central Vietnam.
The US$4 billion beachfront project is scheduled to open its first phase in 1Q2019 with a casino, 445-room hotel complex, 200 apartment-suites for sale on a buy-to-let basis operated by Hong Kong’s New World Hotels, a luxury Rosewood spa with 75 villas and 25 residences, as well as a Robert Trent Jones II-designed golf course.
Leisure activities include a beach club and entertainment venue, live shows and events, watersports and dive centre, retail promenade and a range of new bars and restaurants.
Subsequent phases will happen over the course of 10 to 15 years, where a township of hotels, residential and lifestyle zones, beachfront village and retail district, convention centre, hospitality training college, water sports hub, second golf course and a new lagoon are currently being envisioned.
Hoiana’s chairman, Don Lam, said: “This integrated resort and leisure playground will set a new benchmark for high-end tourism in Vietnam, bringing economic prosperity and opportunity to Quang Nam province.”
Lam expects the mega resort to inject significant income opportunities into the local economy, but added that the developers will seek to minimise the venture's impact on the environment.
The expansion of the nearest Da Nang International Airport has since been fast-tracked by the Vietnamese government to accommodate the expected influx of visitors when Hoiana is completed.