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Phu Quoc a strategic investment location for CEO Group

Released at: 12:10, 20/04/2016 What's on

Phu Quoc a strategic investment location for CEO Group

The CEO Group owns three projects on Phu Quoc Island with a total area of nearly 300 ha, making it the largest investor on "Pearl Island".

A representative of the CEO Group has emphasized that it will develop Bai Truong Beach to make the western coast of Phu Quoc Island a new tourism center and a new resort area of the island.

Bai Truong Beach is located near the international airport and Duong Dong town and at 20 km in length is the most beautiful beach on Phu Quoc. Of the 200 investment projects on the island, 50 are tourism projects and urban areas with a total area of more than 1,800 ha.

The CEO Group has invested trillions of Vietnam dong in building Sonasea Villas & Resort in the center of Bai Truong. The site now has dozens of contractors and nearly 1,800 construction workers on the job.

A year after construction commenced, the Novotel Phu Quoc Resort, with 400 rooms, was completed and met all the strict criteria of the Accor Group. In January this year the hotel was officially launched, built by CEO Group and managed by Accor. Occupancy has stood at around 90 per cent since opening - evidence of its popularity among tourists.

Although Novotel Resort Phu Quoc is the first resort to open on Bai Truong Beach it is just one part of Sonasea Villas & Resort, which the CEO Group is implementing. With an area of 80 ha, Sonasea Villas & Resort is the second-largest tourism project in Bai Truong and has the longest stretch of beach. The CEO Group will sell thousands of shophouses and villas that satisfy demand for resort real estate, which is growing rapidly. In particular, the shophouses are still under construction but almost all have customers registered to buy.

Sonasea Villas & Resort will be completed this year. All villas have a private pool and garden and a total land area of 270-713 sq m. Facilities in the villa area, including a large swimming pool, landscaping, clubs, and restaurants, are also being built. With competitive prices, more than half of the villas offered in late 2015 have been purchased.

This year the CEO Group also began implementing VIP Residences at Sonasea Villas, on a total area of 62 ha along Bai Truong Beach.

In the future the CEO Group will expand its land fund, especially in the field of resort real estate, in the form of M&A. At its Annual General Meeting in 2016, Mr. Doan Van Binh, Chairman and Group CEO, said the Group has agreed to become the largest shareholder of a company that owns two different 150 ha projects on Phu Quoc Island and will also cooperate with a partner that owns a project of 8 ha in Nha Trang.

With 15 years of experience in real estate development, a sizeable land fund and financial capacity, the Group has become the largest investor on Phu Quoc. The CEO Group is taking steps to build its brand, helping to change the appearance and the development of tourism on the island.

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