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The road to Vinh Hoi |
The Vinh Hoi resort will be built in the Nhon Hoi Economic Zone, covering a total area of 325 hectares.
The first phase of the project is expected to be carried out in mid-2011 with the capital of US$250 million and the resort will be operational by mid-2014.
The investor received 135 hectares of land and was asked to finish the preparations for the project; however, the construction progress has still faced many difficulties.
The construction was required to start early next year, aiming to gradually put the project into operation.
The investor was also asked to advance VND30 billion to the functional bodies for compensation and land acquisition in the first phase and the advance will be deducted from the annual land lease payment.
The owner of the project, the Vietnamese-American Hotel and Resort Co, a wholly-owned subsidiary of American firm ITC Spectrum, LLC, signed three management agreements with a major hotel operator for the The Ritz Carlton, JW Marriott and Outrigger hotels, all US-headquartered, to manage the Vinh Hoi Resort.
Accordingly, the Outrigger Vinh Hoi Bay Resort and Spa with 210 rooms and 46 villas will start construction in the coming time.
The 100-villa Vinh Hoi Bay, the Ritz-Carlton Reserve, and the 320-room JW Marriott Vinh Hoi Bay Resort & Spa are expected to begin construction in early 2012 and be completed in 2014.
The centerpiece of the 325ha-development will be an 18-hole championship golf course designed by Robert Trent Jones II of California.
Beside the three hotels in the first phase, residential villa communities, a retail centre, and another culture and entertainment centre, as well as a tropical garden will be constructed.
The project is expected to generate jobs for 4,000 local labourers.
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