Tourism company to seek investors for major projects

Saigontourist Holding Co. will invite investors to help develop  major tourism projects in HCMC and other provinces that will cost a total $1.65 billion.

There are two smaller projects to construct four-star hotels, Saigontourane Hotel in the central city of Danang and Saigon-Phu Tho Hotel in the northern province of Phu Tho with a total capital of $35 million and $11 million respectively.

The remaining projects are larger. Saigon Sunbay will cover 600 hectares in HCMC’s Can Gio District and need up to $1.4 billion.

Similarly, the Rach Chiec Residential Multi-Use Complex is set to be a 23-story building with 600 apartments, exhibition-trade centers and a golf course. The complex requires $75 million.

Saigontourist also plans to deploy the Saigon South Amusement Park and Yacht Marina covering over 10 hectares in HCMC’s Nha Be District. With these projects, there will be a 15-storey skyscraper to be constructed with 300 hotel rooms and condos, 15 villas, yacht terminals and casino services with a total capital of $64 million.

Meanwhile, the Saigon-Cam Ranh resort in Khanh Hoa Province covering 19.8 hectares will also be turned into 800 apartments, 40 villas, a yacht terminal along with other services, all of which will be worth $69.7 million.

According to Saigontourist, these projects have all finished their site clearance phases. Most projects are expected to be completed in the 2014-2015 period, except for the massive Saigon Sunbay, which is set to be completed in 2018.

Currently, the company manages over 100 subsidiaries in the field of hotels, resorts, restaurants and logistics with a total revenue of over VND10 trillion.

Tags: Vietnam Tourism