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Vinpearl to invest $5 billion to build Van Village resort

20 Oct
VNREAfternoon 10/19, the Danang People’s Committee and Vinpearl Joint Stock Company signed agreement on the investment principles of Van Village resort project at the headquarters of Danang PC.

Accordingly, the Danang People’s Committee agreed to assign Vinpearl as investor of Van Village project with total land area and water area is more than 1.500ha (1.050ha of land and 500 ha of water). The Danang People’s Committee will be responsible for site clearance all the land.

An leader of Vinpearl Corporation, said Van Village resort has a total investment estimated $5 billion, of which the first period has total investment $1 billion.

As planned, the project will include such items as: a complex of 5-star hotels with more than 1000 rooms; a population of luxury villas and highclass apartments, a commercial center system of retail stores, restaurants, bars, beauty care centers; theaters and international conference center…

In addition, there will be a big sport center and water sports, telpher, marina, helicopter parking, seaplane…

Van Village resort is a large-scale project in the masterplan for development of Da Nang City and was placed in the category of key projects, so Chairman of Danang PC Mr. Van Huu Chien has directed the departments and local authorities to create conditions for Vinpearl to deploy the project as quickly as possible on the basis of the regulations .

Van Village resort is located in Van Hoa hamlet, Bac Hoa Hiep ward, Lien Chieu district. It is a peninsula located at the foot of the Hai Van Pass with smooth sand, blue sea and romantic landscape…

Photo courtesy of NTNguyen
Masterplan designed by WATG

Vinpearl and Vincom seal merger

5 Oct
VNREVinpearl Joint Stock Company will merge with Vincom Joint Stock Company to form the new Vingroup.

According to the press release, both companies’ Boards of Directors met on October 4 and approved the merger in a bid to enhance competitiveness and expand their businesses by combining resources of two of the leading companies in Vietnam.
After the merger is completed, Vinpearl shares (VPL) will be listed under the Vincom’s VIC symbol.
The merger will create a stronger corporation to rival foreign competitors in real estate development and the resort business, said Le Khac Hiep, Vice Chairman of Vingroup and Chairman of Vincom’s Board of Directors.
Hiep added the new Vingroup will focus on developing its four specialised brands: Vincom (real estate development), Vinpearl (travel and entertainment services), Vincharm (beauty care) and Vinmec (high quality medical services).
Vincom, with a chartered capital of over VND3.9 trillion (US$187.2 million), is the owner of numerous real properties including Vincom Center Hanoi and Vincom Center Ho Chi Minh City, as well as Vincom Village, Times City and Royal City in Hanoi.
Vinpearl has a chartered capital of VND 2 trillion (US$96 million) and is a leading chain of luxury resorts and hotels in Vietnam.

Source: Nhan Dan