THE south central coast of Vietnam has been chosen as the site for a large-scale resort development.
The project was born of the collaboration between petroleum company Vung Ro Petroleum and investment management and real estate development firm Rose Rock Group that had been founded by members of the Rockefeller family.
To be located in Vung Ro Bay in Phu Yen province, which offers direct links to Tuy Hoa and its airport, the development is split into three sections: The Marina, The Village and Bai Mon beach.
With an emphasis on sustainable development, the Vung Ro Bay resort community will comprise a number of hotels with over 760 rooms, 4,300 apartments, 100 luxury townhouses, 350 marina berths and a range of retail shops. The development will also include space for schools, healthcare facilities, retail and entertainment complexes.
Kirill Korolev, CEO and general director of Vung Ro Petroleum, said: “Our plan is to create a vibrant community for Vung Ro around the area’s natural beauty and provide a world-class destination for discerning residents and visitors.”
“Vietnam is rapidly evolving as a unique destination for investment, residence and tourism. We see this as a country of dynamic and diverse investment opportunity, with an economy that is growing at among the highest rates in the world,” he added.
